Mark Mobius, the founder of the capital firm Mobius Capital Partners has made a prediction about the future trading price of Bitcoin (BTC). He has predicted that the BTC trading price may plunge to $10,000.
Mobius Predicts BTC Will Plunge to $10,000
Mobius was recently interviewed by Bloomberg where he was asked about his thoughts on the largest cryptocurrency.
The capitalist not only talked about the future of Bitcoin he also shared his thought on the bearish movement of BTC.
The veteran investor was very clear with his statements about Bitcoin. He went on to talk about the current situation of Bitcoin and also made his prediction.
He stated that he believes that the Bitcoin price will end up weakening in near future. The current price movement of BTC is within a bearish channel
This only means that the trading price of Bitcoin would continue to weaken in the upcoming days. As per the observation of the veteran investor, Bitcoin may fall to a low of $10,000.
Mobius Finds Crypto to be Dangerous
Mobius stated that he has been observing the current market situation of Bitcoin along with the rest of the cryptocurrencies.
As per him, the cryptocurrency market is currently in a winter state that is going to last for a long time. Despite the positive remarks and predictions by investors, Bitcoin may continue moving downwards.
He added that for him, cryptocurrencies are too dangerous to invest in at the moment. There is no knowing where the cryptocurrency market would head in the upcoming years.
As the future of cryptocurrencies is currently uncertain, he feels safe in not making any move in the industry. He does not want to invest in Bitcoin at the moment, given the asset’s current situation.
He added that he has no plans of investing in Bitcoin at the moment and he would not want his clients to invest in Bitcoin either.
Favoring Comments from Mobius
He added that for now, he thinks that the cryptocurrency industry’s future is uncertain and that is what the majority of the investors are thinking.
He did share his thought that he may be overthinking like the rest of the investors and market observers. There is a possibility that cryptocurrencies may stick around forever.
He also praised the performance of Bitcoin amidst the ongoing market collapses. He talked about the recent FTX crash and how Bitcoin’s prices have managed to sustain against its contagion.
Bitcoin may dip to $10,000
Mobius is not the only veteran investor who is of the same view about Bitcoin. Many other major investors still think that a major dip to $10,000 for Bitcoin is still due.
If that is the case, then the crypto market needs to prepare itself for a major crash. If that happens, then the crypto market’s overall valuation may collapse tremendously.