Investing in crypto is 'dangerous' and bitcoin could plummet to $10,000, billionaire investor Mark Mobius says

Quick Summary:

Bitcoin could fall another 40% to $10,000, Mark Mobius warned, as the industry struggles to recover after the implosion of FTX.

Ark Invest's Cathie Wood reiterated her bitcoin price target of $1 million over the next decade, and said she believes the current rout would leave bitcoin "smelling like a rose".

"Crypto is here to stay as there are several investors who still have faith in it," he told Bloomberg.

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Category: Economy

Markets: United States

Topics: Mark Mobius Sam Bankman-Fried Ftx Markets Bitcoin speculation Crypto Regulation Crypto Crypto contagion Market speculation Crypto winter Bitcoin prices MI Exclusive Crypto bear market Bankruptcy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-28 @ 17:58:34 (2 months ago)

News Timezone: GMT -5:00

Ranking: #2916 (out of 4217 stories this day)

News Source URL: markets.businessinsider.com

Language: English

Article Length: 281 words

Reading Time: 2 minutes read

Sentences: 31 lines

Sentence Length: 10 words per sentence (average)

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Copyright Owner: © Business Insider

News ID: 2010939

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