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 of finance and cryptography.
Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to $10,000 – Markets & Prices Bitcoin News
Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nevertheless, he said, “Crypto is here to stay as there are more investors who still have faith in it.”
Mark Mobius’ Bitcoin Price Prediction
Mobius Capital Partners founder Mark Mobius shared his latest bitcoin price prediction in an interview with Bloomberg on Monday.
Before starting his own company, Mobius spent more than three decades at Franklin Templeton Investments. He previously served as Executive Chairman of the Templeton Emerging Markets Group where he managed more than $50 billion in emerging market portfolios.
The veteran investor said his next goal for bitcoin is $10,000, noting that cryptocurrencies are “too dangerous” for him to invest his own money or his clients’ money in.
Despite the collapse of crypto exchange FTX and subsequent market sell-off, Mobius emphasized:
Crypto is here to stay as there are more 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 CEO mentioned $10,000 as his target for bitcoin’s price. In May, he advised investors against buying the valley, warning that the market still had a way to fall. Last November, he said that people should not look at cryptocurrencies as a means of investing, but as “a means of speculating and having fun.”
Mobius is not alone in expecting the price of bitcoin to fall to $10,000. Doubleline Capital CEO Jeffrey Gundlach, also known as the bond king, said in June: “I wouldn’t be surprised at all if [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. Also, a recent Bloomberg MLIV Pulse survey showed that the majority of nearly 1,000 investors who responded expect that bitcoin’s price will fall to $10K.
Meanwhile, some people are still very optimistic about the price of BTC. For example, venture capitalist Tim Draper said earlier this month that he expects bitcoin’s price to reach $250K by mid-2023.
Do you think the price of bitcoin will fall to $10K? Let us know in the comments section below.
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