Legendary investor Mark Mobius is convinced that Bitcoin is heading lower, but he doesn’t believe that this is the end of crypto
Mobius Capital Partners founder Mark Mobius has predicted that the price of Bitcoin, the largest cryptocurrency by market capitalization, could plunge to just $10,000.
As reported by U.Today, the co-founder of Mobius Capital Partners made the same call in early March. Back then, the world’s largest cryptocurrency was trading way above $30,000.
Despite the fact that Bitcoin is currently trading close to a two-year low, Mobius praised the cryptocurrency’s resilience, arguing that it held up “amazingly” in wake of the FTX disaster.
Mobius is convinced that cryptocurrencies are here to stay in spite of the current headwinds.
As reported by U.Today, Fundstrat’s Tom Lee recently compared the ongoing cryptocurrency crisis to that of 2018. Lee believes that cryptocurrencies are here to stay because they will still be supported by a cohort of people who prefer decentralization.
Mobius is known for being skeptical about cryptocurrencies. Back in 2020, he compared Bitcoin to a casino operation.
In 2021, the prominent investor said that the largest cryptocurrency wasn’t a real investment.
Source: https://u.today/mark-mobius-sees-bitcoin-falling-to-10000