• Sat. Mar 2nd, 2024

BTC Price May Fall Below $10K, Predicts Mark Mobius

Dec 3, 2022

Bitcoin’s Expected Future Price

Bitcoin was commented on by Mark Mobius, a veteran investor and the founding member of Mobius Capital Partners, USA.

Mobius was in Singapore where, during an interview with Bloomberg, he claimed that Bitcoin’s value is likely to fall below $10K.

Mobius is a well-known entrepreneur whose experience expands over more than 50 years. Prior to establishing his own Mobius Capital, he spent about three decades working with Franklin Templeton Investments.

At Templeton, Mobius was the Executive Chairman at the time of his departure from the investment firm. During his time, he successfully managed one of the highest-worth investment funds exceeding $50 Billion.

Danger Hides in Cryptocurrencies

While commenting on the world’s leading cryptocurrency Bitcoin, he stated that Bitcoin’s next targeted value is $10K. He noted further that there is a grave danger that lies in cryptocurrencies.

Mobius claimed that he never thought of investing either in Bitcoin or any other cryptocurrency. He said none of the cryptocurrencies appealed to him as investable assets because investing in them is ‘way too risky’, said Mobius.

Crypto Going Nowhere

He further took notice of the FTX collapse and the rising tide of ‘selling-off’ in the crypto industry.

As regards the crypto future, however, Mobius said that there is a huge line of investors who are interested in digital currencies.

Considering this interest, Mobius acknowledged that crypto would continue to stay as a lot of faith in them could be witnessed. He also admitted that it is astonishing for him how well Bitcoin has been able to hold up.

Mobius on FTX Collapse

According to Mobius, the sad departure of FTX and its CEO will continue to haunt the digital asset market for some time. The problem he sees is that though FTX contagion will end with it a few more crypto outfits would also collapse.

Mobius Stance Unchanged

Mobius was amongst the few who had never changed their views regarding Bitcoin and its future price projections.

Even when Bitcoin’s value was reaping exponentially and the crypto industry was booming, he suggested that Bitcoin was over-priced.

He continued to hold his stance ever since that Bitcoin is worth not more than $10,000.

When nobody was expecting crypto market chaos, he urged investors not to acquire Bitcoins even though a temporary dip was there.

It was in May when he cautioned investors not to spend their money on Bitcoins. He even told them that the massive crypto market crisis is on the way.

Similarly, in November 2021, he advised the public not to regard digital currencies as viable investable instruments. To the contrary, he suggested that investors should regard them as nothing but a ‘source of fun’.

Other Notable BTC Price Predictions

There are several other entrepreneurs who are also predicting Bitcoin’s future price under $10K.

For instance, Jaffrey Gundlach, CEO of Doubline Capital, predicted in June that Bitcoin’s value may drop below $10k.

Almost similar were the views of Peter Schiff, a globally acclaimed economist, who suggested that Bitcoin is edging towards a great fall. Schiff also predicted the future Bitcoin price to be either $10k or less than that.

Even a crypto investors’ survey was carried out by Bloomberg MLIV Pulse on the expected future price of Bitcoin.

Survey findings showed that over a thousand investors claimed that Bitcoin’s value could drop below $10k.

However, there is another set of people who still believe that by mid-2023, Bitcoin’s value would exceed $250,000. Among these people is Michael J. Saylor, the founder of MicroStrategy.

Saylor has contributed tremendously to the worldwide adoption of Bitcoin by endorsing it wherever possible. He has supported the largest crypto since the beginning of 2020.

To this day, his support has not wavered for once in support for Bitcoin. He even had his company invest in Bitcoin and as a result, it is a non-crypto entity with the largest amount of BTC.

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