There is room for a further decline in crypto prices, according to veteran fund manager Mark Mobius, who even predicted a drop in the price of Bitcoin to as low as $10,000.
In an interview in Singapore today, Monday, the co-founder of Mobius Capital Partners argued that the cryptocurrency market will plummet even further and estimates that the price of bitcoin will reach $10,000.
Today, the price of the largest cryptocurrency is down 2% to $16,214.
“However, cryptocurrencies are here to stay and there are many investors who still believe in them. It is incredible that the price of Bitcoin has held up despite the collapse of the FTX platform.“
There are now many analysts who estimate that the price of Bitcoin will return to 2020 levels and $10,000, when a year ago it set a new all-time record high of $69,000.