Mark Mobius, the founder of Mobius Capital Partners and the legendary American fund manager known as the "Godfather of Emerging Markets", said that there is still room for the cryptocurrency market to continue to fall. He predicts that Bitcoin may fall back to 1 Ten thousand U.S. dollars.
Mark Mobius said in an interview in Singapore on Monday that he believed Bitcoin's downside target could be around $10,000, adding that he would never invest his cash or client funds in cryptocurrencies because "it's Too dangerous".
Mark Mobius said: "But I believe that cryptocurrency will continue to exist because there are still some investors who still have confidence in it." He went on to say that although the impact of FTX's bankruptcy has spread, "Bitcoin's resilience makes it so People are surprised."
At the same time, some people in the cryptocurrency circle also expect Bitcoin to fall another 40% from the current price to $10,000, returning to the price level of 2020.
There is a large amount of open interest in Bitcoin put contracts, known as open interest, expiring at the end of December with a $10,000 strike price, according to options data from Deribit.
Mobius has been involved in the investment market for more than 40 years and is famous for its successful investments in emerging markets. It has been selected as the world's best fund manager by international professional organizations many times. He has also said in the past that a drop in Bitcoin prices would likely hit technology stocks hard.
This article Cryptocurrency is too dangerous, never invest! The Godfather of Emerging Markets: Bitcoin May Fall to $10,000 appeared first on Blockchain.