Bitcoin Seen Dropping To $10,000, This Asset Management Co-Founder Predicts

Bitcoin Seen Dropping To $10,000, This Asset Management Co-Founder Predicts
Bitcoin returned to the bottom of its current range and might see further downside pressure in the coming days. The cryptocurrency is still recovering from the collapse of FTX, the former second major crypto exchange in the world, and the contagion unleashed in the sector.  Related Reading: Ethereum Tries To Keep Luster As ETH Moves To Narrower Trading Range As of this writing, Bitcoin has recorded a spike in selling pressure. The cryptocurrency is trading at $16,200 with a 2% loss in the last 24 hours. Other assets in the crypto top 10 record similar price action, but the majority preserves profits from last week.  Bitcoin Can Crash To Its 2020 Levels Amid FTX’s Collapse A report from Bloomberg claims some institutional investors are bearish on Bitcoin. Mark Mobius, experienced fund manager and founder of Mobius Capital, believes Bitcoin might drop to $10,000 in the medium term.  The fund manager claims the crypto industry might suffer from more contagion. Since the crypto exchange filed for bankruptcy, several companies halted operations. The Digital Currency Group (DCG) company, Genesis, is a prominent case. ..

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