50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Guggenheim Partners CIO Expects Further Crypto Market Meltdown

Published 12/16/2022, 08:00 PM
Updated 12/16/2022, 08:15 PM
Guggenheim Partners CIO Expects Further Crypto Market Meltdown

  • Scott Minerd expects the crypto market to drop further.
  • According to Minerd, solid regulations will decide the future of crypto.
  • He also stated that some crypto projects would survive the meltdown.

Guggenheim Partners’ Chief Investment Officer Scott Minerd has warned investors following the demise of the FTX cryptocurrency exchange and what appears to be a broader meltdown of cryptocurrencies. According to the CIO, the FTX crisis is the beginning of a larger industry-wide shakeup in the cryptocurrency sector.

Speaking during a televised interview about the US Federal Reserve’s interest rate hike, Minerd said:

There’s another shoe to drop [..] A year ago, we were talking about crypto, and there were approximately 19,000 coins, there is going to be wash out just like the internet bubble.

Further, as an example of a “bubble,” Minerd compared the cryptocurrency market to the dot-com era. In addition, he admitted that he had been left bewildered by the waning excitement surrounding the non-fungible token (NFT) market. However, while the Guggenheim CEO is certain that some cryptocurrency ventures will survive the current crisis, he did not name any of them.

He stressed that the cryptocurrency market and its broader adoption is in its inf ...

The post Guggenheim Partners CIO Expects Further Crypto Market Meltdown appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.