Bitcoin’s Price Is Yet to Dive Says Billionaire Investor Mark Mobius
Global investors' focus has indeed been drawn to Bitcoin (BTC) as a result of its most recent price drop. The major investors are sitting on their money, ready to buy BTC when it reaches a new low.
Bitcoin's bottom may still be coming, Mobius said:“Bitcoin investors are still talking about buying on dips which means there is a feeling of hope. That also means that we have not reached the bottom of a bear market.
He added: “Cryptocurrencies are a measure of investor sentiment. Bitcoin goes down, and the next day the Dow Jones goes down. That’s the pattern you get. That shows that Bitcoin is a leading indicator.”