Veteran Investor Mark Mobius Sees Bitcoin Collapsing to $10,000
'Buy the Dip' Strategy Not Going to Work?
Appearing in an interview with the Financial News, Mark Mobius stated that BTC is going to collapse to as low as $10,000 in the coming times.
While acknowledging that the “buy the dip strategy,” had previously worked successfully in the past, he stressed that this is not going to work this time as he believes that the market still has some way to fall.
“It will not work this time until bitcoin hits $20,000, from where there might be a bounce but then the next target will be $10,000,” Mobius told the publication.
At the time of writing, BTC is currently trading at $29,389, down 3.1% from the past 24 hours, according to data from CoinGecko.
Mobius Had Long Been a Bitcoin Skeptic
Mobius has long been a bitcoin skeptic. In October, he told the news outlet that cryptocurrency “could really blow up,” claiming that it was a risk that central banks “should be paying attention to.”
A month later, he told in another interview not to consider BTC as a serious means of investment. “It’s a means to speculate and have fun. But then you’ve got to go back to stocks at the end of the day,” he said.