- According to StanChart analysts, Bitcoin could go as low as $5,000 in 2023.
- The probable decline in BTC could lead to a rise in the price of physical gold.
- Drop in oil prices and Joe Biden’s impeachment are potential shockers for 2023.
With the “crypto bubble” bursting, the world’s first and largest cryptocurrency, Bitcoin, could fall as low as $5,000 in one scenario envisioned by analysts at Standard Chartered (LON:STAN) banking group.
As the crypto ecosystem recovers from FTX’s collapse, the multinational bank assesses Bitcoin’s potential downside in 2023.
The forecast was included in Standard Chartered’s yearly list of surprises that analysts think the markets may be ignorant about or undervaluing.
According to a Bloomberg article, Standard Chartered’s chief strategist Eric Robertsen considered a probable decline in Bitcoin’s value would be associated with a rise in the price of physi ...
The post Bitcoin Could Fall to $5,000 in 2023: Says StanChart Analysts appeared first on Coin Edition.