Bitcoin May Fall to $10,000 in ‘Dangerous’ Crypto Market: Mark Mobius


Bloomberg – Mobius Capital Partners LLP co-founder Mark Mobius said in an interview what his next bitcoin price will be (XBT) is $10,000 (currently hovering around $16,500). He added that he would not invest his money or his clients’ money in digital assets because “it (the ecosystem) is too dangerous.”

“However, cryptocurrency is here to stay because there are a number of investors who still believe in it,” said Mobius, who spent more than three decades at Franklin Templeton Investments. “It’s amazing how bitcoin prices have held up” despite FTX’s fall, added.

The messy bankruptcy of FTX and its sister company Alameda Research, both owned by Sam Bankman-Fried, is weighing heavily on the digital asset market. Worryingly, the contagion could topple more crypto companies, as happened on Tuesday when crypto lender BlockFi filed for bankruptcy.

Some forecasters believe that bitcoin may return to pre-bull levels.dfd

Some analysts in the cryptocurrency industry are eyeing a return to $10,000, which would push bitcoin to the last level of 2020. level, before the token’s value rose to a record high of nearly $69,000 last November.

Deribit options data shows a large number of outstanding bitcoin sales contracts (so-called open interest) with a strike price of $10,000 through the end of December. The concentration of options bets suggests that derivatives investors expect this level to be tested.

Read more at Bloomberg.com

Source: news.google.com

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