Seasoned investor and co-founder of Mobius Capital Partners Mark Mobius is issuing a dire warning to Bitcoin (BTC) traders that devastating losses still await the leading crypto asset.

Mobius says that while the “buy the dip” strategy may have worked for cryptocurrency traders in the past, it’s not a good idea this time around. However, he notes there could be a slight upswing after Bitcoin drops to the $20,000 mark before it once again resumes its plummet to $10,000.

“[Buying the dip] will not work this time until Bitcoin hits $20,000, from where there might be a bounce but then the next target will be $10,000.”

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