Mark Mobius Believes Bitcoin is Gonna Hit $10,000

Mark Mobius, an American millionaire fund manager and Bitcoin skeptic, has cautioned crypto investors not to purchase the Bitcoin plunge, predicting that the master crypto will fall to $10,000 in the next couple of months.

Mark Mobius Believes Bitcoin is Gonna Hit $10,000

Mark Mobius, a legendary investor and founder of Mobius Capital Partners, is warning Bitcoin traders that the cryptocurrency asset is still vulnerable to catastrophic losses. Mobius advises against buying the dip in a recent interview with Financial News London, predicting a crash that would take the top virtual currency by market size all the way back down to $10,000.

“It will not work this time until bitcoin hits $20,000, from where there might be a bounce but then the next target will be $10,000.” 

-Mark Mobius

Mobius has already chastised Bitcoin and other cryptocurrencies. Back in November, the critic said that Bitcoin was a religion rather than an investment. Bitcoin, according to Mobius, is very risky and unpredictable, and that investors should treat it as a recreational hobby instead of an asset.

Estimating the bitcoin price, like playing the lottery or gambling, is a loser’s game, according to the 85-year-old American financial adviser in 2020. Mobius contended that there had been no information that could be used to anticipate the currency’s price action.

After plunging to $25,401, the weakest point since December 2020, the world’s top crypto rose to an intermediate peak of $30,960 on the Bitstamp platform earlier today. Those that caught the bottom of the last Bitcoin downturn were able to profit by over than 20% in less than 24 hours.

Coinbase, the largest cryptocurrency exchange in the United States, has also been struck by the breakdown. Its stock has dropped by over than 40% in the last week after it announced a drop in first-quarter revenues and trading volumes. Coinbase’s stock has dropped 78 percent in the last year.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Jai Hamid

CoinCu News