Mark Mobius, the founder of Mobius Capital: Bitcoin falls to $10,000

Bitcoin news

Mark Mobius, the founder of Mobius Capital and veteran financial markets investor, recently revealed his latest Bitcoin price prediction in an interview with Bloomberg. According to Bitcoin.com, Mobius worked for Franklin Templeton Investments for three decades before starting his investment firm and managed more than $50 billion in emerging markets as the company’s executive director. He has said that the next target he foresees for Bitcoin is the $10,000 level, adding that cryptocurrencies are so “dangerous” that he is unwilling to invest his or his clients’ money in these assets.
Despite this, referring to the chaotic conditions of the digital currency market and the collapse of the FTX exchange, Mobius said:

Cryptocurrencies are here to stay, and many investors still believe in these assets. The way Bitcoin’s price has held up [so far] has been amazing.

This is not the first time Mobius has proposed a $10,000 target for Bitcoin. Earlier, in May, he had advised investors to refrain from buying at temporary lows; Because Bitcoin still has a long way to go in its downward path. In November of last year, he also said that people should not look at digital currencies as a tool for investment and that these assets are tools for brokerage and entertainment.

In addition to Mobius, Jeffrey Gundlach, CEO of Doubleline Capital, said in June this year that he would not be surprised if Bitcoin fell to $10,000. Peter Schiff, an economist, and investor in the global gold market, also recently said that Bitcoin has a long way to go in its downward path and proposed a target of $10,000 for this digital currency. A new Bloomberg survey also shows that among 1,000 different investors, most expect the price of Bitcoin to continue falling to $10,000.

Against these pessimisms, Tim Draper, active in the venture capital field, predicted at the beginning of this month that the price of Bitcoin would reach $250,000 by mid-2023.

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