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. Tags in this story bitcoin price prediction, Franklin Templeton, mark mobius, Mark mobius bitcoin, Mark Mobius bitcoin $10, Mark Mobius bitcoin $10K, Mark Mobius bitcoin prediction, Mark mobius crypto, Mark Mobius crypto price prediction, Mark mobius cryptocurrency
Do you think the price of bitcoin will drop to $10K? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. NFT Sales Jumped 22% Higher This Month With $568 Million in NFTs Sold Across 20 Blockchains MARKETS AND PRICES | 8 hours ago Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit MARKETS AND PRICES | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Exchange Bitfront Shuts Down Amid Industry Challenges Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Iran to Increase Penalties for Unauthorized Cryptocurrency Mining