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Legendary Investor Mark Mobius Says Bitcoin Hasn’t Bottomed Yet — Here’s Why

Mark Mobius, co-founder of Mobius Capital Partners, says that the leading cryptoBitcoin (BTC) has not yet bottomed out after a sustained downtrend.
According to a new Bloomberg report, Investor says digital assets serve as a gauge of investor sentiment and tend to correlate with stocks.

cryptocurrencies are a measure of investor sentiment. Bitcoin falls, the next day the Dow Jones falls. This is the pattern you will receive. This shows that Bitcoin is a leading indicator.”

Mobius also says he believes the right time to start buying stocks is when investor sentiment is at a low point after both institutional and retail traders suffered heavy losses and “throw in the towel.”

The investment veteran then says as long as BTC traders try, the top crypto asset market capitalization to buy if its price falls, there is still room for bitcoin to fall.

“[As long as traders] are still talking about buying from Dips which means there is a sense of hope. It also means that we are not yet at the bottom of a bear market.”

In May, Mobius predicted that Bitcoin would eventually reach $20,000 before rebounding slightly and continuing down to $10,000.

Bitcoin is changing hands at $20,377 at the time of writing, down 0.5% on the day.
Check the price action


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