{"id":1609,"date":"2022-05-23T20:27:00","date_gmt":"2022-05-23T20:27:00","guid":{"rendered":"https:\/\/freakcryptos.com\/index.php\/2022\/05\/23\/prominent-investment-officer-predicts-more-downside-for-bitcoin-price-heres-why\/"},"modified":"2022-05-23T20:27:00","modified_gmt":"2022-05-23T20:27:00","slug":"prominent-investment-officer-predicts-more-downside-for-bitcoin-price-heres-why","status":"publish","type":"post","link":"https:\/\/freakcryptos.com\/index.php\/2022\/05\/23\/prominent-investment-officer-predicts-more-downside-for-bitcoin-price-heres-why\/","title":{"rendered":"Prominent Investment Officer Predicts More Downside For Bitcoin Price, Here&#8217;s Why"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"m-on mb-3 text-center\">\n<a href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=180936;size=320x100;setID=508113\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"320\" height=\"100\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=img;click=CLICK_MACRO_PLACEHOLDER\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=img;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\"\/><\/noscript><\/a>\n<\/div>\n<p><span style=\"font-weight: 400;\">Global Chief Investment Officer, Scott Minerd, has given his tackle what the longer term holds for world\u2019s main cryptocurrency, Bitcoin. Speaking to CNBC Squawk Box in a <\/span><a href=\"https:\/\/twitter.com\/squawkcnbc\/status\/1528721561280204800?s=21&amp;t=t2G9uUJW8X5U0i9G_7-a8g\"><span style=\"font-weight: 400;\">recent interview<\/span><\/a><span style=\"font-weight: 400;\">, he projected a downward motion for Bitcoin.<\/span><\/p>\n<h2><strong>Bitcoin Price Might Continue To Go Downhill<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Still within the wake of a disturbing second for Bitcoin, a number of positives and negatives could be drawn. <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">On the dangerous aspect, bitcoin is predicted to fall much more after an inverse motion between worth and hashrate was noticed, resulting in a possible future downhill.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">On the great aspect although, the thought of concerning Bitcoin as a speculative asset would shift into that of a retailer of worth. That approach, there can be much less must promote, ending the bull run. <\/span><span style=\"font-weight: 400;\">Despite the entire negativity, there was hypothesis of a bearish market. 63,000 price of Bitcoin property are expiring by May 27.<\/span><\/p>\n<h2><strong>Why Minerd Thinks Bitcoin Can Dip Further<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Minerd, in a dwell interview, aired by CNBC has predicted an additional downfall for Bitcoin. According to him, <\/span><a href=\"https:\/\/coingape.com\/bitcoin-btc-registers-a-strong-bullish-divergence-moving-past-30000\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> has had constant breaks beneath the $30,000 mark and with $8,000 the last word backside, all indications recommend a downward motion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">He additionally factors out the feds being extra restrictive as a contributing issue to the draw back. He debunked the idea that every one currencies and cryptocurrencies are strong. He explicitly made a daring assertion that almost all currencies and cryptocurrencies are junk and rubbish respectively.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">He believes there are 19,000 cryptocurrencies however isn\u2019t satisfied with the state of issues. He likened the current scenario to the canary within the coal mine and additional drew inspiration from the web bubble when requested who had been possible going to be the most important winners.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">During the web bubble, he claimed Yahoo and American Online had been simply thought to be the most important winners till an evolution of know-how. No One envisaged Amazon to be a winner just because they didn\u2019t exist. <\/span><span style=\"font-weight: 400;\">His guess is crypto can be the identical. With the introduction of extra cryptocurrencies, he feels something can occur although he backed Ethereum and Bitcoin to be survivors. He admits stablecoins to be fascinating tasks shifting ahead.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">He believes in a crypto-driven future however states that mandatory measures have to be taken. He accused <\/span><a href=\"https:\/\/coingape.com\/crypto-analyst-predicts-what-will-kickstart-next-bitcoin-bull-run\/\"><span style=\"font-weight: 400;\">cryptocurrencies<\/span><\/a><span style=\"font-weight: 400;\"> of not dwelling as much as the important thing parts of a foreign money; retailer worth, medium of change and unit of account and steered a regulatory board much like Hong-Kong.<\/span><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA113306\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<div class=\"authodes\">\nSunil is a serial entrepreneur and has been working in blockchain and cryptocurrency area for two years now. Previously he co-founded Govt. of India supported startup InThinks and is at present Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has revealed greater than 100 articles on cryptocurrency and blockchain and has assisted various ICO&#8217;s of their success. He has co-designed blockchain improvement industrial coaching and has hosted many interviews in previous. Follow him on Twitter at <a href=\"https:\/\/twitter.com\/sharmasunil8114\">@sharmasunil8114<\/a> and attain out to him at sunil (at) coingape.com\n<\/div>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/bb2db02531ca08606aa5fdd533609d02?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" src=\"https:\/\/secure.gravatar.com\/avatar\/bb2db02531ca08606aa5fdd533609d02?s=60&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/bb2db02531ca08606aa5fdd533609d02?s=60&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/bb2db02531ca08606aa5fdd533609d02?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD113306\">\n<p> The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability to your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/coingape.com\/prominent-investment-officer-predicts-more-downside-for-bitcoin-price-heres-why\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Chief Investment Officer, Scott Minerd, has given his tackle what the longer term holds for world\u2019s main cryptocurrency, Bitcoin. Speaking to CNBC Squawk Box in a recent interview, he projected a downward motion for Bitcoin. Bitcoin Price Might Continue To Go Downhill \u00a0Still within the wake of a disturbing second for Bitcoin, a number [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[20,69,168,301,1392,635,110,1391],"class_list":{"0":"post-1609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-bitcoin","9":"tag-downside","10":"tag-heres","11":"tag-investment","12":"tag-officer","13":"tag-predicts","14":"tag-price","15":"tag-prominent"},"_links":{"self":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/1609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/comments?post=1609"}],"version-history":[{"count":1,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/1609\/revisions"}],"predecessor-version":[{"id":1610,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/1609\/revisions\/1610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media\/1252"}],"wp:attachment":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media?parent=1609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/categories?post=1609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/tags?post=1609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}