Veteran investor Mark Mobius has said bitcoin (btc) may drop to the $10,000 level, but he is still amazed at how well the bitcoin price is “holding up” in the current bearish environment.
speaking in a Interview Appearing with Bloomberg on Monday this week, Mobius, known as one of the world’s leading experts on emerging market investing, made it clear that although he is impressed by bitcoin’s performance, he will not invest in it himself. . And that goes for both his and his customers’ money, he said.
“It’s very dangerous,” said Möbius.
The veteran investor said he believes bitcoin and crypto more broadly is “here to stay,” given how many investors still believe in it. “It’s Amazing How Bitcoin Prices Have Soared” Despite This The collapse of the crypto exchange FTXThey said.
Since FTX filed for bankruptcy on November 11, the price of bitcoin is now more or less unchanged, trading at just over $17,000 at press time.
A drop to $10,000 would send bitcoin down to levels not seen since October 2020, prior to the massive bull-run that began later that year and continued into 2021. The level marks a key support area on the charts formed by the late 2019 market high. And in early 2020.
Longtime Crypto Skeptic
A longtime crypto-skeptic, Mobius has in the past Crypto is called a “religion” rather than an investment. He also warned that the risks in the crypto market could spread to the broader financial market and eventually drag down the US stock market.
Nevertheless, Mobius has also shared positive views on bitcoin in the past. In 2019, he noted that Bitcoin – like all currencies – is based on trustAnd said he might buy it if adoption picks up.
Mark Mobius worked for Franklin Templeton Investments for more than 30 years, and in 2018 co-founded Mobius Capital Partners LLP with fellow Templeton portfolio manager Carlos von Hardenberg. Mobius Capital Partners specializes in emerging market investments.
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