LAHORE - Bitcoin could crash to $10,000, a more than 40% plunge from current prices, veteran investor Mark Mobius told CNBC the other day.
The investor, who made his name at Franklin Templeton Investments, told CNBC that his bear case for bitcoin stemmed from rising interest rates and general tighter monetary policy from the U.S. Federal Reserve. There have been numerous companies offering investors sky-high interest rates for parking their crypto with them. Often, these companies would rely on lending users’ crypto out to others at really high interest rates, then splitting the proceedings with users. But as crypto prices crashed and liquidity dried up earlier this year, many of these companies collapsed.
“So there was abundant cash to speculate on crypto coin,” Mobius added. The Fed has had ultra-low interest rates and engaged in quantitative easing over the past few years which has been credited with helping the boom in areas of the market like technology stocks and crypto. But the central bank has been tightening its monetary policy this year by raising interest rates sharply.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
ذریعہ: arynewsud - 🏆 5. / 63 مزید پڑھ »
ذریعہ: geonews_urdu - 🏆 15. / 53 مزید پڑھ »
ذریعہ: geonews_urdu - 🏆 15. / 53 مزید پڑھ »
ذریعہ: 24NewsHD - 🏆 19. / 51 مزید پڑھ »
ذریعہ: 24NewsHD - 🏆 19. / 51 مزید پڑھ »