Mark Mobius Prediction Bitcoin could hit $10k at 2023

[Rigon]

Due to some unexpected events of this year, the Bitcoin market is in a very bad situation. Right now, Mark Mobius, a very popular figure in cryptocurrency, predicted in a CNBC seminar on Thrusday that Bitcoin is going to stay below $10k dollars very soon. That's going to be a 40 percent drop in current bitcoin value.



Re: photo collected from Google

He adds that one of the reasons for this is that large centralized exchanges like FTX are getting involved in scams out of fear that those who have invested in cryptocurrencies or institutions that hold cryptocurrency investments by offering interest rates above 5% are getting destroyed.  Also, people don't want to hold cryptocurrency because of higher interest rate of USD.

Mark Mobius had earlier given some predictions which were later corrected .In May this year, when the Bitcoin market was at $28,000, he said that Bitcoin would soon hit $20,000, which later came true.  But it is only a matter of time how far Mark Mobius's $10k prediction comes true.
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[BlackBoss_]

Who is the man? I don't know about this man.

Will you lose anything if Bitcoin drops to $10k but you invest with your money and can wait until 2024 halving?

If you can not buy more Bitcoin about $10k, just hodl till the halving.
If you can DCA more, do it.

Skip his prediction because if Bitcoin falls to $10k, he will make another prediction calls to $5k.

In bull runs, later predictions call for higher prices.
In bear runs, later predictions call for lower bottoms.

Is it true?
No, because price can not rise forever in bull run or fall forever in bear run. There is top and bottom but your responsibility is to DCA and take profit averagely.

[Ayers]

Although we are having positive signals in the market such as related news on interest rates as well as the economic situation has improved slightly and that has sent bitcoin up slightly over the past few days but I believe we have not really bottomed in this bear season yet. We are still in crypto winter and the tragedy of FTX is not really over yet, as the parties involved in FTX have not been revealed nor have any final damages reported. I support his prediction and believe bitcoin will hit 10k during this bear season.

[LDL]

Who is the man? I don't know about this man.

Profile of Mark mobius:see

Will you lose anything if Bitcoin drops to $10k but you invest with your money and can wait until 2024 halving?

Bitcoin halving in 2024 is not 100% sure.  However, many believe that Bitcoin will exceed $200,000 in 2030.

If you can not buy more Bitcoin about $10k, just hodl till the halving.

If what Mark Mobius says is true i.e. if Bitcoin goes to 10k or below then I will convert all my assets to Bitcoin and I will wait until the next halving.

Is it true?

How true this news is I cannot say for sure.
Yes but a wise person or investor is somewhat informed about the Bitcoin market.  They should not be dismissed outright.  Some of Mark Mobius' previous comments have come true.  So the Bitcoin market can take a turn in any direction at any time.But it wouldn't be surprising if Bitcoin touches $10,000 in 2023. Because the Bitcoin market completes a certain circle .

[Sarah Azhari]

Mark Mobius, a very popular figure in cryptocurrency, predicted in a CNBC seminar on Thrusday that Bitcoin is going to stay below $10k dollars very soon. That's going to be a 40 percent drop in current bitcoin value.
prediction comes true.

I don't know who Mobius even you showed the photo which mean unpopolar person try to predict the bitcoin price? Who is care?. 2 years ago someone also prediction bitcoin dump to below $1k, but until 2020 end nothing happens. So, don't listening what everyone say, he try to buy your investment, he try to make you affraid qnd buy in what you sell

[franky1]

the bottom of the market is discovered by:

buyers finding that they cannot get bitcoin below X anywhere on the planet via any acquisition cost. (public exchange, private OTC, mining)

sellers refusing to sell bitcoin below X anywhere on the planet via any exit method (public exchange, private OTC)

what many will find is out of exchanges, otc and mining. the cheapest place to acquire bitcoin anywhere on the planet is from the most efficient mining cost on the planet.

so if you can calculate the cheapest mining the most efficient mining and truly calculate all costs to mine 1btc.. you will find a bottom number that then supports all speculative prices above that number

..
some will try to say that mining is as volatile as speculating on the market.. but it is not

its actually a smooth efficient running business
the true low cost mining do not have variable costs that change by the hour/day.
they lock in employment costs on 6-12month employment contract
they lock in electric costs on 6-24 month contracts**
they use hardware for 6-36 months
they use warehouse facilities on a 1-10 year lease


meaning their costs are locked anf frozen for 6 months+

as for hashrate changes

lets say the hashrage changes from 200-280exahash per year for the network

the most efficient miners are constantly mining. they are part of the 200exa minimum that never stop mining whereby its hobby miners that jump off and on randomly t change the hashrate

yes the change of hashrate changes the size of the slice of the pie all miners get because of that hash competition. but as said by locking in costs for 6 months. efficient miners do not react to daily whimsy of change.
they just accumulate for 6months+ and then tally their total cost for 7 months vs coins earned over 6 months.

so if you can see the average hashrate of 6 months+ and calculate the overal cost for 6 months cost. you find the bottom for that period

and miners are not going to waste 6 months of earning btc just to sell at a loss.
so they become part of the group that refuse to sell below X

so while the market premium of speculation floats and waves above a bottom of X(not on public exchange amount)

the market is getting support to no sell down to X

thus the market is trying to 'price discover' and test the markets bottom.

now to the most important part.
in 2022. the most efficient method to acquire bitcoin on the planet(a method below and outside of the public market). is supporting the bitcoin price above $10k
the hashrate has to drop below 200exa to cause enough hash competition change to earn efficient miners more BTC to shift their coin:cost measure below $10k:1btc

oh and a note about one aspect earlier
** electric cost
they have not yet been hit by the electric hike in cost of 2022 yet. so their next contract period will be higher, meaning costs higher meaning wanting to maintain a HIGHER price to sell at, not lower

the only big impact to lower the bottom would be if hashrate of network decline dramatically for the AVERAGE hashrate of a 6month+ timescale

[Tytanowy Janusz]

Due to some unexpected events of this year, the Bitcoin market is in a very bad situation. Right now, Mark Mobius, a very popular figure in cryptocurrency, predicted in a CNBC seminar on Thrusday that Bitcoin is going to stay below $10k dollars very soon. That's going to be a 40 percent drop in current bitcoin value.

If famous people bitocin predictions would come true bitcoin would be dead in 2012, 1 mln $ in 2018, dead in 2019, 1 mln$ in 2021 and 10k$ in 2023. None of those extreme numbers were correct so far.

He adds that one of the reasons for this is that large centralized exchanges like FTX are getting involved in scams out of fear that those who have invested in cryptocurrencies or institutions that hold cryptocurrency investments by offering interest rates above 5% are getting destroyed.  

Its bullish for bitcoin that scam altcoins and scam services go bust. Only proves that bitcoin is the best long term crypto investment. FTX case made people withdraw from exchanges (what is exposing those who are swimming naked - with fractional reserve system, dumping users bitcoins on users)

Also, people don't want to hold cryptocurrency because of higher interest rate of USD.

Super high interest rates. -4% (negative) real interest rates (adjusted for inflation). Its definetly a game changer compared to potential +500-1000% for bitcoin in next 2-5 years with limited downside becasue bitcoin already dumped 80% and is the most oversold in history (monthly RSI at ATL). For sure people are rushing for negative 4%

Mark Mobius had earlier given some predictions which were later corrected .In May this year, when the Bitcoin market was at $28,000, he said that Bitcoin would soon hit $20,000, which later came true.  But it is only a matter of time how far Mark Mobius's $10k prediction comes true.

There are like 10 000 "famous people" that shoot and miss. The fact that 100 of them will be correct at least once is super high. It does not change them into crytal ball that will be correct next time.

Also he is an emerging markets fund manager. So he gets new clients when he is bearish when everyone else is bearish. He can't be bullish when 90% people are bearish because his clients will call him crazy and leave. 90% of people are loosing on market. He is targeting them right now to dump BTC at loss and go to him because he predicted dump below 20k and is as bearish as they are now. But they are bearish because of fear, he is bearish to get new clients.

[LDL]

Mark Mobius, a very popular figure in cryptocurrency, predicted in a CNBC seminar on Thrusday that Bitcoin is going to stay below $10k dollars very soon. That's going to be a 40 percent drop in current bitcoin value.
prediction comes true.

I don't know who Mobius even you showed the photo which mean unpopolar person try to predict the bitcoin price? Who is care?. 2 years ago someone also prediction bitcoin dump to below $1k, but until 2020 end nothing happens. So, don't listening what everyone say, he try to buy your investment, he try to make you affraid qnd buy in what you sell

We may not be aware of Mark Mobius but his prediction has already been published in almost every leading news media and cryptocurrency related magazine and news portal channel.  Yes, it may be a fabrication of his and may be the target of his next investment.  So we have no other option at the moment except to invest in Bitcoin and hold it for the long term.

This prediction already published in several news channel/Magazines...

The coinrepublic.com

U°TODAY

news.bitcoin.com

dailyhodl.com

theprint.in

Bloomberg.com

[Tytanowy Janusz]

We may not be aware of Mark Mobius but his prediction has already been published in almost every leading news media and cryptocurrency related magazine and news portal channel.  Yes, it may be a fabrication of his and may be the target of his next investment.  So we have no other option at the moment except to invest in Bitcoin and hold it for the long term.

This prediction already published in several news channel/Magazines...

[...]

When mass media calls for 1 mln$ BTC ... sell immediately.

When mass media spam FUD and low price predictions ... start buying.

Its never been easier to invest long term. Just use mass media as counter indicator. The fact 6 websites repost random guy bearish predition makes me super bullish.

[Aanuoluwatofunmi]

Due to some unexpected events of this year, the Bitcoin market is in a very bad situation.

What are the unexpected situations with bitcoin and the expected ones missed out? without any form of alterations bitcoin on itself is volatile, the price is not fixed, it changes at any time and this change is both high and low, the demand on the market determines which side prevail over it's price.


Right now, Mark Mobius, a very popular figure in cryptocurrency, predicted in a CNBC seminar on Thrusday that Bitcoin is going to stay below $10k dollars very soon. That's going to be a 40 percent drop in current bitcoin value.
[/quote]

Try do your own research, Mark Mobius has done his own research to an extent, try make some speculations and study the possibilities to this outcome of bitcoin price we all have anticipated for, it may go down or up with time but this year already has it all on dip but may not be that low upto $10k.

[lovesmayfamilis]

OP, it would be fair for you to include a link to where you got this information from in your post. I see that you told it in your own words; however, when referring to someone else's opinion, to prove other people's words, there should always be a link.
But as far as predictions go, I don't know a single person who possesses a crystal ball. Whether an event has come true or not, it gives no reason to have confidence in the forecasts of any person, even if he is an experienced investor. I know many stories when experienced people changed their estimates over time.

[hugeblack]

I am happy when I hear such statements, as they are an indication of the end of the bear market.
We will not reach those levels under normal circumstances, perhaps if there is a problem with Binance, Coinbase, or regulatory restrictions, it may happen, but in the normal situation we are far from that.

The next two weeks will be a confirmation of the trend either below 16k or above 17k due to the outcome of the next Federal Reserve meeting and whether the pace of raising interest rates will be fixed or will it continue to increase.

[m2017]

This is just a forecast, even if we take into account the influence and significance of such a figure as Mark Mobius. Very similar to the weather forecast, which, as you know, has very large errors in accuracy. The same is true here. Too many factors can affect the price of btc, both up and down, which is almost impossible to predict. I am inclined to believe that the bearish trend will continue for a long time, and therefore, a fall in the value of bitcoin is quite possible and Mark Mobius's forecast is possible too. But I wouldn't say for sure. Even if this happens, then with a change to a bullish trend, BTC will still compensate for the loss in value, recover and show new highs.

[Haunebu]

Never heard of him before and I don't really care about his speculations since they are baseless and are simply dependent on the recent FTX events. The beauty of BTC and many other cryptocurrencies is that they don't always follow certain patterns.

This volatility factor makes them unpredictable at any point of time basically.

[Antonas1]

Well, here we go again. After Cathie Wood came up with an excessive prediction, then Elon Musk said the price of Bitcoin would rise soon. Now Mark Mobius is back and joining the party. This is what I say whales don't control prices with their bitcoins but play with your minds. Lemme quote my words:

I don't think users with huge amounts of Bitcoin (you call them Whales) play Bitcoin price with theirs; it's too risky. But they announce their investment amount and then make statements in the media to control people's minds. So actually those people are stuck with their own thoughts, with their speculations, and with the graphic analysis they make.

Don't read news too much; enjoy your life.

I imagine Mobius is Morpheus from The Matrix. In Greek mythology Morpheus is a God of Dreams.

[NdaMk]

I thought we'd moved on from bitcoin predictions. People predict this and that, but nothing happens or anything close to that happens. Using the FTX crash as a reason why bitcoin may fall below $10,000 cannot be overemphasised or debated because such events have an impact on the market. The general public and bitcoin enthusiasts can always predict, but their predictions should not be overly relied on because they do not always come true.

[Maslate]

No person could predict bitcoin correctly, whoever he is (sorry not familiar), I think he has a point because we are already in the bearish mode. But the question is, do we have to panic? No, because we've seen bitcoin dump many times and it always recovers and make a new ATH.

Always remember this """""""  Bitcoin has died 467 times"""""" if you are losing faith on bitcoin.

[LDL]

Will you lose anything if Bitcoin drops to $10k but you invest with your money and can wait until 2024 halving?

If you can not buy more Bitcoin about $10k, just hodl till the halving.

In fact Bitcoin halvings usually happen every four years.  If we calculate that, we can get Bitcoin halving 4 in March 2024. If we buy and hold bitcoins at the current rate of bitcoin market price we can get big profits in the near future especially the fourth halving. The prerequisite for investing in bitcoins is to buy bitcoins when the market price falls and sell bitcoins when the market price rises.

[spectre71]

Well some pretty big names make predictions... None have been right in my eyes.

If I thought he was right I would sell and buy back in, screw this hodl crap. I'd prolly sell half and watch. That's a big difference in the end game over just hodl.

Or a good opportunity to blend down.

I want it to crash more and flush out the leverages.

[Baofeng]

Regardless of who this man is, $10k is still very possible the way the market is going right now. I mean the negative sentiments because of the Luna and recently the FTX debacle is still here and might stay a bit. We've seen how it negatively affected the price, setting another lower lows at $15,500.

So just imagine if another big name in crypto suddenly collapses that could put somewhat saturated with negative signals and sentiments, the result is another meltdown pulling the price to final capitulation in the range of $10k.