The founder of Mobius Capital Partners and the legendary American fund manager “Mark Mobius” known as the “Godfather of Emerging Markets” said that there is still room for the cryptocurrency market to continue to fall. He expects that Bitcoin may fall back to 1 Ten thousand U.S. dollars.
In an interview in Singapore on Monday, Mark Mobius said he believes the downside target for bitcoin could be around $10,000, adding that he would never invest his own cash or client funds in cryptocurrencies because ” It’s too dangerous.”
Mark Mobius said: “But I believe that cryptocurrencies will continue to exist because there are still some investors who are still confident in it.” He went on to say that although the impact of FTX’s bankruptcy has spread, “But the degree of Bitcoin’s resilience makes the Surprised.”
At the same time, some people in the currency circle also expect that Bitcoin will fall another 40% from the current price to $10,000, returning to the price level of 2020.
According to options data from Deribit, a large number of open Bitcoin put contracts, known as open interest, are set to expire at the end of December with a strike price of $10,000.
Mobius has been in the investment market for more than 40 years, and has become famous for its successful investment in emerging markets. It has been selected as the best fund manager in the world by international professional institutions for many times. He has also said in the past that a drop in the price of bitcoin would likely hit tech stocks hard.