UK-based international banking group Standard Chartered has suggested that investors will turn to the physical alternative gold, while expecting a 70% drop in Bitcoin (BTC) for 2023.
According to a Bloomberg report, Standard Chartered Head of Global Research Eric Robertsen In a report published on December 4, Bitcoin’s time in 2023 to 70% losing near value $5,000 He stated that it is among the possible scenarios that it will go down and shock the market. Robertsen reported that he expects the demand for Bitcoin to decrease in the next year and to increase the demand for gold, which he claims is the physical alternative to Bitcoin. Head of research unit, Bitcoin 70% per ounce of gold in the scenario where it loses value 2,250 He suggested that it could be traded in dollars.
In the gold price of the exits that will occur in Bitcoin up to 30% Claiming that this will lead to an increase, Robertsen underlined that this situation is likely to reverse the interest rate hikes. Robertsen also emphasized that the FTX bankruptcy had a huge impact on what happened.
Global Head of Corporate Markets, ABC Refinery Nicholas Frappell de Robertsen had a similar view. Frappel’s insecurity in the cryptocurrency industry an orientation below he said he could create
Head of Fundstart’s Digital Asset Strategy Sean Farrell On the other hand, the bankruptcy stage is basically over, but the risk that investors are exposed to in the near term cannot be compensated stated.