- For Mark Mobius, Bitcoin is a game of luck rather than a coin
- Mobius believes that there is nothing to, analyze the price of cryptocurrencies
- Mobius assures that Bitcoin is a religious movement
- Only Stablecoins can be trusted as per Mobius
In a recent interview with Financial News, Mark Mobius, a legendary emerging market investor and investment promoter and founder of Mobius Capital Partners LLP, resembles Bitcoin as a casino and stated that it consists of very high risk. The interview revealed that Mark Mobius is a detractor of the industry.
Mobius seems all cryptocurrencies share the same nature?
According to Mobius’s view, practically every virtual currency shares the same nature. The share of same nature also makes the crypto tokens more religious movement, as compared with the real investment value. However, the closest point of sympathy with this type of cryptocurrency is that stablecoins are tied up to gold.
Does the controversy have some weight?
If this heated controversy has not come from an investor like Mobius, then it must have never been concerned. This dispute among gold supporters and cryptocurrency enthusiasts have highly creative judgements. The 84 years old experienced investor, is a considerable crypto critic for a long time. The key reason for Mobius’s belief is that cryptocurrencies cannot be relied on to predict its next move, as there is no reliable information.
Prediction of Bitcoin’s price means fail
Mobius emphasizes that if someone tries to predict the movement of the world’s leading crypto token, it means the person will surely fail. Mobius emphasized that after the price of Bitcoin declined into a sharp correction when the price was $300 below to reach it’s new all-time high and everything was indicating that it was just a matter of time it broke.
Undoubtedly, Bitcoin has a tradition of behaving unorthodoxly, still, it cannot be interpreted in an overemphasized way that Bitcoin is a game of luck. However, the correct study of support and resistance can help to predict the movement of any asset naturally with a few risk levels.
Is this controversy raised to rescue trust in the traditional system?
It seems like by ensuring that Bitcoin is more like a game of luck, critics want to rescue trust in the traditional system. Back in 2019, Mobius also stated that the technology would tumble itself at any moment. Indeed the statement raised by such an investor has contrasted with other investors of no small importance.
However, this year was one of the most challenging years for several altcoins, as they showed losses. Still, Bitcoin remained the exception. Indeed, the investors of Bitcoin remained solidly bullish, as there does not appear to be a selling pressure indicating any kind of drop in the price of Bitcoin.