Investor Mark Mobius warned crypto traders against buying the dip
According to the head of Mobius Capital Partners, the strategy will not pay off as there is a risk of further market decline
16.05.2022 - 08:00
346
1 min
0
What’s new? Mark Mobius, an investor and founder of the management company Mobius Capital Partners, has warned cryptocurrency traders against using the buy the dip strategy. He believes that the strategy will not work until the price of bitcoin reaches $20 000, from where a rebound may occur. Mobius added that if that does not happen, the next target would be $10 000. This is reported by Financial News. As of May 16, 11:20 Moscow time, BTC is trading at $29 770. (According to Binance).
What events happened before? On May 10, analytics company Santiment reported that about 40 620 BTC ($1,27 billion as of May 11) were sent to crypto exchanges per day. This is the largest inflow of funds to the platforms since December 2019.
Trader and analyst Peter Brandt believes $27 000 to be a local bottom for the bitcoin price, from which a rebound could occur. A surge in trading volumes can be seen on the BTC chart, which indicates capitulation. This process could mean the cessation of further price declines, according to Brandt.
American entrepreneur and author of the bestseller “Rich Dad Poor Dad” Robert Kiyosaki called the bitcoin crash “great news.” He noted that he had previously intended to buy BTC when its price fell to $20 000. Now Kiyosaki expects it to drop to $17 000.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$69 583
BTC
+2.64%
-
Ethereum
$2 432.88
ETH
+1.52%
-
BNB Smart Chain
$567.33
BSC
+2.38%
-
Ripple
$0.513799
XRP
+2.35%
-
Dogecoin
$0.170876
DOGE
+8.49%
-
Cardano
$0.33468
ADA
+2.73%
-
Bitcoin Cash
$343.93
BCH
+4.85%
-
Polkadot
$3.87
DOT
+3.36%
-
Litecoin
$66.03
LTC
+0.88%
-
Stellar XLM
$0.093605
XLM
+2.8%