Mark Mobius: Bitcoin Will Fall to $10,000

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According to Mark Mobius, a well-known investor in emerging markets, the next target for Bitcoin is $10,000.

Bloomberg has reported that he has noted that he would not invest his own funds or clients’ money in cryptocurrencies, because “it is too dangerous.” At the same time, he does not believe that the emerging asset class will disappear.

He has said:

“Cryptocurrencies will remain as there are investors who still believe in them. It’s amazing how prices have held up amid the collapse of FTX.”

Mobius’ benchmark is consistent with the strike price of December options, where the maximum open interest on put options is recorded.