- It is an interesting fact to note that Mobius, in May has predicted that the Bitcoin is going to stumble and touch 20,000 USD.
- Mobius also tells us that we can speculate that we have not reached rock bottom right now, and there is still space for falling.
- Bitcoin is floating at 21,034 USD at the time of writing.
Whenever there is a debate about bitcoin’s future, there are generally two levels of behavior that are usually shown by a majority of the audience. They are either:
- Extremely Bullish
- Extremely Bearish regarding the crypto coin.
Recently, the co-founder of one of the largest Investment companies in England named ‘Mobius Capital Partners’—Mark Mobius claims something in regard to being bearish on the Bitcoin’s downtrend right now.
Bitcoin’s Downtrend
The drawback with Bitcoin as an investment is, due to its reputation of being highly volatile, whenever the market fluctuates a bit, it installs a lot of fear in the minds of investors. This results in more coin holders selling their bitcoin.
Also, during that time, the fearful investors consider it a good decision to sell off their bitcoin in order to increase their traditional portfolios such as index funds, mutual funds, and bonds.
Mobius believes that the best time to start buying the dip is when the market sentiment is at its lowest, institutional investors suffer heavy losses and give up.
ALSO READ – Isn’t it obvious the raising concerns of crypto’s future given the ongoing market crash?
The Mobius Prediction
According to the statement given by Mobius, as the people are still wanting to buy the coin just on the basis of bitcoin’s dominating market capitalization, there is still hope left in the market.
Mobius also tells us that due to this reason, we can speculate that we have not reached rock bottom right now, and there is still space for falling.
It is an interesting fact to note that Mobius, in May has predicted that the Bitcoin is going to stumble and touch 20,000 USD.
After that, it will recover a little, because of the public hopes, but then will crash straight to 10,000 USD.
Bitcoin is floating at 21,034 USD at the time of writing.
Source: https://www.thecoinrepublic.com/2022/06/24/legendary-investor-mark-mobius-still-bear-ish-on-the-bitcoin-market/