Guggenheim Partners official, who has $285 billion in assets under his management, FTX predicts that the collapse in the stock market will spread further. Here are the official’s predictions on the cryptocurrency market.
Scott Minerd, who participated in a new interview on Bloomberg, stated that there may be more losses in the cryptocurrency market due to ‘bubbles’.
“If you remember, we talked about crypto assets a year ago. At that time there were 19,000 coins. I said at the time: ‘Most of this is bullshit and they’re going to collapse.’ Just like in the internet bubble, there will be survivors later.”
Also, despite some failures cryptocurrencyHe thinks there is a good future for them.
“The digitization of the currency is still in its infancy. And how that will evolve now will require a regulatory framework to legitimize it. I think we will move forward. And I think that will be transformative for the overall economy.”
Minerd stated that he could not predict the date of the next crypto market crash. However, he stated that he is quite confident in his future due to the ongoing speculation in the industry.
“I think we have a lot of events ahead of us… It’s because it’s just like the times when we had easy money and a lot of speculation. That’s why the weakest players fall first.
So digital assets were frankly a crazy thing. I’ve never fully understood NFTs… There’s one more sector to drop, but I can’t tell where it is.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.