Guggenheim's Scott Minerd sees Bitcoin falling to $15,000

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• Scott Minerd, co-founder and global chief investment officer at Guggenheim Investments, said Thursday that he sees Bitcoin (BTC-USD) falling to around $15,000, with potentially years worth of consolidation to come.
• Speaking to CNBC, the well-known investor explained the recent strength in Bitcoin had been supported by significant "central bank liquidity." He said that as that liquidity fades, Bitcoin has fallen.
• “The real bottom, when you look at the technicals, $10,000 would be the real bottom. You know, that’s probably a little extreme, so I would say $15,000," he said.
• Minerd added that he "wouldn't be in a hurry" to jump back into Bitcoin at $20,000, noting that washouts in a market can take "a couple of years" to consolidate.
• "I don’t think people need to be anxious to be putting money in bitcoin right now,” he concluded.
• Despite his expectation for more declines in the near term, Minerd predicted significant upside for Bitcoin over the long haul.
• He pointed to Guggenheim research that suggests that Bitcoin would be valued at $400,000 to $600,000 if it were to become a store of value on par with gold. Minerd argued that additional institutional support could push the cryptocurrency toward those levels.
• Looking for more calls from Minerd? Check out his perspective on the Green New Deal, posted on Seeking Alpha.