Crypto

Legendary investor Mark Mobius reveals his potential target for Bitcoin (BTC) and says the cryptocurrency is “too dangerous” for clients’ money. – Information about Essonne

Mobius Capital Partners co-founder Mark Mobius has set a new down target for Bitcoin (BTC) as the fallout from the FTX crash continues to unfold.

In an interview with Bloomberg News, the investment legend says he expects bitcoin to drop nearly 40% from current prices.

Mobius says bitcoin will fall to $10,000. At the time of writing, Bitcoin is changing hands at $16,421.

The investor also tells Bloomberg that digital assets are too risky and that he wouldn’t invest his clients’ money in the crypto space, saying “it’s too dangerous.”

But Moebius says that digital assets will not disappear and will remain part of the portfolios of some investors.

“But cryptocurrency will stay because there are a few investors who still believe in it.”

Moebius says it’s “surprising” how Bitcoin has weathered FTX’s drop but is holding on to its $10,000 price target.

Renowned network analyst Willy Wu recently revealed a “max pain level” for bitcoin if it continues to decline, roughly in line with Mobius’ target.

“According to the Max Pain model, the bottom of Bitcoin is approaching.

Historically, the price of bitcoin reaches its macrocycle high when 58%-61% of the coins are underwater (orange).

Green shading is configurable for coins locked in GBTC Trust. »

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