Bitcoin Could Drop to $10,000, Predicts Mark Mobius

The founder of Mobius Capital Partners, Mark Mobius, forecasted that Bitcoin, the most valuable cryptocurrency by market capitalization, might drop to just $10,000.

The co-founder of Mobius Capital Partners made the same call in early March, according to U.Today. The biggest cryptocurrency at the time traded for significantly more than $30,000.

Mobius praised the resiliency of the cryptocurrency, asserting that it held up “amazingly” in the wake of the FTX catastrophe, despite the fact that Bitcoin is currently trading close to a two-year low.

Despite the current challenges, Mobius is certain that cryptocurrencies will endure.

Tom Lee of Fundstrat recently compared the current cryptocurrency crisis to that of 2018, according to U.Today. Because a group of people who favor decentralization will continue to embrace cryptocurrencies, Lee thinks they are here to stay.

Mobius has a reputation for being dubious of cryptocurrencies. He linked Bitcoin to a gambling enterprise back in 2020.

The well-known investor claimed that the biggest cryptocurrency wasn’t a legitimate investment in 2021.

 

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