Mark Mobius Sees Bitcoin Down at $10,000 in 'Dangerous' Crypto Market
Comment of the Day

November 28 2022

Commentary by Eoin Treacy

Mark Mobius Sees Bitcoin Down at $10,000 in 'Dangerous' Crypto Market

This article for Bloomberg may be of interest to subscribers. Here is a section:

“But crypto is here to stay as there are several investors who still have faith in it,” said Mobius, who spent more than three decades at Franklin Templeton Investments. “It’s amazing how Bitcoin prices have held up” despite the FTX fallout, he added.

Eoin Treacy's view

Even though may die-hard investors will never sell their cryptocurrency regardless of what happens to the price, that does not negate the fact it is a highly cyclical asset.

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