Guggenheim CIO Scott Minerd has taken to Twitter to warn about the dangers of using cryptocurrency. He says that people should be careful in the upcoming Memorial Day weekend because prices might change a lot.
Bitcoin is not doing well right now. Bitcoin had a drop and traded at $35,154. It is now trading at $36,211 on the Bitstamp exchange.
The largest cryptocurrency is 37% less than it was this May. It is going to have its worst month since September 2011.
U.Today reported that Minerd said it would take a while for the cryptocurrency market to recover, but he also predicted that Bitcoin and Ethereum would be among the few survivors.
In December, he made plenty of headlines when he said that Bitcoin could reach $400,000 but then he said that was for the long-term.