In an interview with Financial News media outlets, Mark Mobius, emerging markets asset manager and founder and CEO of Mobius Capital Partners, said that it makes no sense trying to analyze and predict the future price of Bitcoin because the cryptocurrency does not follow any pattern.
CEO of Mobius Capital Partners, Mark Mobius said:
“Trying to predict the price of Bitcoin is a loser’s game.”
Mobius stated that speculating on movements of Bitcoin’s price is similar to playing a lottery or gambling. He mentioned there is no reliable information that anyone can use to predict the cryptocurrency’s next move. He said:
“[Its rise is a] casino operation based on all sorts of rumors and speculation.”
Mobius’ observation comes at a time when Bitcoin was on the verge of reaching a record high of $20,000 earlier this week, but the cryptocurrency’s sharp rise was cut short after its price fell by almost 11% on November 26 – one of the biggest declines since…