Bitcoin will survive but could crater to $8,000 and won’t end up as the dominant crypto, says Guggenheim’s Minerd
Bitcoin will survive but could crater to $8,000 and won’t end up as the dominant crypto, says Guggenheim’s Minerd
“We’re seeing crypto collapse as it is,” he said. “Let’s face it — most of these currencies, they’re not currencies, they’re junk. The majority of crypto is garbage.”
While giants like bitcoin and ether will be among the tokens that survives the downturn, Minerd said he is still waiting for an even more significant token to emerge, likening the current environment to the internet boom of the early 2000s when only a few companies survived after the dot com bubble burst.
“I don’t think we’ve seen the dominant player in crypto yet,” Minerd said. “I don’t think we’ve had the right prototype yet for crypto.”
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