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American investment company: “Bitcoin” may collapse to reach 10 thousand dollars

American investment company: “Bitcoin” may collapse to reach 10 thousand dollars
 
A major US financial services and investment company has warned that "Bitcoin", the world's largest
cryptocurrency by capitalization, could collapse to only $10,000.

Guggenheim Investment Chairman Scott Maynard said that there's no reason for investors to shop for Bitcoin at this time.

"The largest cryptocurrency within the world is within the midst of a collapse that would bring it to $10,000," Maynard said in an interview with CNBC on Friday evening.

He added, “When we glance at the history of cryptocurrencies and appearance at where we are, I actually think this could be a crash... and you recognize that crash means we're getting to drop in 70-80%. Let me just say that's between 10,000 and 15,000.”

In its report, the network noted that "Bitcoin" is currently trading at about $ 33,300 per unit, nearly 50% below the record high levels above $ 60,000 recorded just three months ago.

The price drop was driven by variety of things , including increased regulatory scrutiny from China to the united kingdom , the environmental impact of crypto-mining, and concerns that the currency generally has no inherent value.

“I can assure you that i will be able to not be during a rush to shop for bitcoin, and that i see no reason to have it now,” Maynard said. “If you're getting to be a speculator, expect it to travel down.”

According to the American “Bloomberg” agency, Maynard wasn't always against the “Bitcoin” currency, as he confirmed before the top of last year that “its value could reach $ 400,000.”

But last May, Maynard tweeted that cryptocurrency has proven to be too suffering from “speculative bubbles,” while making other pessimistic comments last month when he said: “Look for more drops in crypto nonetheless.” The trend is for Bitcoin, which can fall back to the price , which is $20,000.”

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