Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to $10,000

Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.”

Mark Mobius’ Bitcoin Price Prediction

The founder of Mobius Capital Partners, Mark Mobius, shared his latest bitcoin price prediction in an interview with Bloomberg Monday.

Prior to starting his own company, Mobius spent more than three decades at Franklin Templeton Investments. He previously served as the executive chairman of Templeton Emerging Markets Group where he managed more than $50 billion in emerging markets portfolios.

The veteran investor said that his next target for bitcoin is $10,000, noting that cryptocurrencies are “too dangerous” for him to invest his own cash or his clients’ money in.

Despite the collapse of crypto exchange FTX and subsequent market sell-offs, Mobius emphasized:

Crypto is here to stay as there are several investors who still have faith in it … It’s amazing how bitcoin prices have held up.

This was not the first time that the former Franklin Templeton executive mentioned $10,000 as his target for bitcoin’s price. In May, he advised investors against buying the dip, cautioning that the market still had some way to fall. In November last year, he said people should not look at cryptocurrencies as a means to invest but as “a means to speculate and have fun.”

Mobius is not alone in expecting the price of bitcoin to drop to $10,000. Doubleline Capital CEO Jeffrey Gundlach, aka the bond king, said in June: “I wouldn’t be surprised at all if it [bitcoin] went to $10,000.” Gold bug and economist Peter Schiff said this month that bitcoin still has a long way to fall. He valued BTC at $10K. Moreover, a recent Bloomberg MLIV Pulse survey showed that the majority of nearly 1,000 investors who responded expect bitcoin’s price to drop to $10K.

Meanwhile, some people are still very optimistic about the price of BTC. Venture capitalist Tim Draper, for example, said earlier this month that he expects bitcoin’s price to hit $250K by mid-2023.

Do you think the price of bitcoin will drop to $10K? Let us know in the comments section below.

from Bitcoin News https://ift.tt/wMnRjgc

Comments

Wallet Bot on Telegram Adds Bitcoin Support to Web Interface Following Tether Integration

Telegram users can now buy, sell, and send bitcoin, as the leading cryptocurrency has been integrated into the Wallet bot on the popular messaging application. The bitcoin support follows the wallet’s recent tether integration, which enables users to transact with the stablecoin as well. Over a Billion Telegram Users Can Now Transfer Bitcoin in Chats On Friday, April 21, the @wallet bot on Telegram announced the addition of bitcoin (BTC) support to its web interface. The development team explained that previously, the leading cryptocurrency by market capitalization was only accessible in the text bot. “Now, all @wallet users will be able to take full advantage of our web interface,” the announcement on Telegram details. Telegram is extremely popular among cryptocurrency users, and according to a report from April 2023, the messaging app has an estimated 1.068 billion users. Bitcoin.com News confirmed that BTC has been added, as our publication tested the @wallet bot on Telegram...

Bitcoin ETFs Snap 10-Day Streak: $93M Flees as Fidelity’s FBTC Takes the Hit

Data compiled Friday revealed a striking reversal for spot bitcoin exchange-traded funds, which snapped a ten-session inflow streak with a $93.16 million exodus—marking their first day of negative movement. Bitcoin ETFs Drain While Ether ETFs Gain The abrupt shift punctuated a previously unbroken stretch of positive momentum for U.S. bitcoin ETFs, culminating in a $93.16 […] from Bitcoin News https://ift.tt/Q1xgKWA

BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market

While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023. Blur’s Native Token Slides 28% Against the Greenback in 30 Days The NFT marketplace Blur has captured a majority of the NFT sales over the past month, according to metrics from dappradar.com. Additionally, according to data from Dune Analytics, Blur’s market share in terms of volume over the past week was 71%. The Dune Analytics dashboard, created by @hildobby, shows that over the past week, Blur accounted for 42% of trades, while the NFT marketplace Opensea accounted for 48.3%. In terms of trader count this past week, Opensea outpaced Blur, with over 89,000 traders compared to Blur’s 39,000. While the marketplace has been competitive, Blur’s native token, BLUR , suffered...

Crypto News Updates

Search This Blog