Fri. Feb 23rd, 2024

The Guggenheim investment boss is now under criticism for his wild price forecasts, as it may be price manipulation.

The price forecasts made by Guggenheim investment boss Scott Minerd, which fluctuated sharply within a very short period of time, are probably directly related to a massive investment by his company in Crypto Bank.

In the social media, he is now accused of attempted price manipulation

A crypto trader noticed that on January 31, the Coinbase crypto exchange moved almost $ 500 million in BTC to several private wallets. This amount in turn corresponds to a planned investment amount, which the Guggenheim investment fund shows in a report to the US Securities and Exchange Commission. So it can be concluded that the investment firm bought this bitcoin.

However, the events leading up to this purchase give it a bland aftertaste. Minerd said on January 21, 10 days before the investment, that the market-leading cryptocurrency “will fall back to $ 20,000 ” and that there will probably be no further significant gains before 2022.

In an interview with Bloomberg Television, he reiterated that assessment on Jan. 27, arguing that the current interest of institutional investors would not be enough to keep Bitcoin above $ 30,000

However, since January 31, after his company apparently made the massive investment, the Guggenheim CIO’s price forecasts have suddenly become strikingly optimistic again. At the beginning of this week, in an interview with the news channel CNN, he even said that Bitcoin will climb to $ 600,000 in the future. This exceeds his own ambitious forecast of $ 400,000 that he made in mid-December.

This “duplicity” did not go unnoticed by the crypto community, which is why it traces Minerd’s contradicting public statements on social networks .

By admin