Bill Miller calls the fall of BTC “pretty routine”, while Guggenheim Partners considers cryptocurrencies to be a bubble
American investor believes that bitcoin “will soon return to its previous positions”
Reputable US investor Bill Miller sees no reason to be worried about the fall of the first cryptocurrency coin. Bitcoin has dropped nearly 20% over the past 7 days, according to data from Coinmarketcap. Today, May 20, the crypto coin costs $41,609.
“If I liked something at higher prices it is a safe bet I will like it even more at lower prices. I don’t comment on normal fluctuations in stock or asset prices,” Miller said.
The investor considers a 50% decrease in the price of BTC from the historical high as “routine”. In addition, he noted that the fall of bitcoin can lead to “extreme consequences” for the financial world, but “soon enough it will return to its previous positions, and the storm will subside.”
Reputable US investor Bill Miller sees no reason to be worried about the fall of the first cryptocurrency coin. Bitcoin has dropped nearly 20% over the past 7 days, according to data from Coinmarketcap. Today, May 20, the crypto coin costs $ 41'609.
“If I liked something at higher prices it is a safe bet I will like it even more at lower prices. I don’t comment on normal fluctuations in stock or asset prices,” Miller said.
The investor considers a 50% decrease in the price of BTC from the historical high as “routine”. In addition, he noted that the fall of bitcoin can lead to “extreme consequences” for the financial world, but “soon enough it will return to its previous positions, and the storm will subside.”
Reputable US investor Bill Miller sees no reason to be worried about the fall of the first cryptocurrency coin. Bitcoin has dropped nearly 20% over the past 7 days, according to data from Coinmarketcap. Today, May 20, the crypto coin costs $ 41'609.
“If I liked something at higher prices it is a safe bet I will like it even more at lower prices. I don’t comment on normal fluctuations in stock or asset prices,” Miller said.
The investor considers a 50% decrease in the price of BTC from the historical high as “routine”. In addition, he noted that the fall of bitcoin can lead to “extreme consequences” for the financial world, but “soon enough it will return to its previous positions, and the storm will subside.”
Reputable US investor Bill Miller sees no reason to be worried about the fall of the first cryptocurrency coin. Bitcoin has dropped nearly 20% over the past 7 days, according to data from Coinmarketcap. Today, May 20, the crypto coin costs $ 41'609.
“If I liked something at higher prices it is a safe bet I will like it even more at lower prices. I don’t comment on normal fluctuations in stock or asset prices,” Miller said.
The investor considers a 50% decrease in the price of BTC from the historical high as “routine”. In addition, he noted that the fall of bitcoin can lead to “extreme consequences” for the financial world, but “soon enough it will return to its previous positions, and the storm will subside.”
Guggenheim Partners calls digital currencies a bubble
Guggenheim Partners investment director Scott Minerd believes digital currencies are a bubble. He compared the recent fall in the cryptocurrency market to “Tulipmania”.
“Crypto has proven to be Tulipmania. As prices rise, tulip bulbs and #crypto currencies multiply until supply swamps demand at previous market clearing prices,” he wrote on Twitter.
To this, Compound founder Robert Leschner noted that Minerd’s statement was a mistake “bordering on financial incompetence.” He recalled that the supply of BTC and other cryptoassets does not increase with price increases.
“It’s like saying that stock supply increases with demand,” Leschner wrote.
