Bitcoin price could drop to $10,000 in 2023, says investor Mark Mobius

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Alex Dovbnya

Prominent investor Mark Mobius has doubled down on his Bitcoin bearish price prediction

During a recent appearance on CNBC Squawk Box, Mark Mobius, an emerging markets fund manager, predicted that the price of Bitcoin could fall to $19,000 in 2023.

The head of Mobius Capital Partners doubled down on his bearish prediction he made in late November following the crash of the FTX exchange.

Despite Bitcoin remaining relatively resilient during what appears to be the crypto industry’s biggest crisis yet, Mobius continues to believe that the biggest cryptocurrency will plummet in 2023.

The world’s largest cryptocurrency is currently changing hands at the $17,300 level on major cryptocurrency exchanges. The flagship coin is now around 75% down from its peak lifespan.

Mobius believes its going to do more harm in terms of higher interest rates.

As reported by U.Today, Bitcoin and stocks fell sharply after the US Federal Reserve signaled that it would continue to hike rates in 2023.

While inflation has likely peaked, it remains well above the Fed’s oft-repeated 2% target.

In a recent Bloomberg interview, Scott Minerd, global chief investment officer at Guggenheim Partners, called recent Fed statements bearish for the stock market.

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