Guggenheim's Scott Minerd, who called the dramatic decline in the price of bitcoin, said Friday that the cryptocurrency could extend its slide even further in the months ahead. Minerd told CNBC's Brian Sullivan on " Worldwide Exchang e" that bitcoin's trajectory appeared to be worse than a typical correction in the volatile crypto space and that it could fall back to where it traded last summer before its parabolic rise. "A normal correction or a sell-off would be 40% to 50%. But when we look at the history of crypto, and we look at where we are, I really do believe this is probably a crash," Minerd said. "And a crash would mean we'd be down 70% to 80%, so that would be, let's just say, between $10,000 and $15,000." Minerd said in April that bitcoin's price would soon be cut in half. When Minerd made his call, bitcoin was trading near $55,000 after pulling back from its all-time high above $60,000. It fell all the way below $30,000 in June . The cryptocurrency has since perked up off its lows, but Minerd said the overall trend still pointed toward further declines. On Friday, it was trading around $32,800 . "The market is trading heavy. It's really hard to get this thing to reverse. I wouldn't be in a hurry to buy bitcoin, and I don't see any reason to own it right now. If you're going to be a speculator, speculate that it's going lower," he said. The Guggenheim global chief investment officer is not a full crypto skeptic long term, having previously said that bitcoin could eventually rise above $400,000 per coin. Watch the full interview with Minerd above, including an exclusive segment for CNBC Pro subscribers.
Scott Minerd, Guggenheim Partners
Scott Mlyn | CNBC
Guggenheim's Scott Minerd, who called the dramatic decline in the price of bitcoin, said Friday that the cryptocurrency could extend its slide even further in the months ahead.