who suffered many blows in 2022 bitcoin had a hard fall. Finally, with the collapse of the cryptocurrency exchange FTX, BTC It fell as low as $15,500.
Bitcoin, which has been on the rise in recent days, has risen above $ 17,000.
While this rise led investors to hope for the bull to start, the famous UK-based bank Standard Chartered’from BTC A new report has arrived.
Stating its 2023 predictions for Bitcoin, Standard Chartered estimates that BTC could drop by about 70% in 2023 to $ 5,000.
Eric Robertsen, Standard’s global head of research and chief strategist, Chartered, said in a report addressed to his clients in 2023. of bitcoin stated that with the potential decline in its value, there will be a transition to physical gold.
Robertsen claimed that after the rate hikes in 2022, interest rates could now reverse in 2023.
“Bitcoin could drop by about 70% to $5,000.
This decline in BTC will increase the demand for gold and may lead to a rally of up to 30%.
This means reaching $2,250 per ounce of gold.
Gold will benefit from negative events in Bitcoin and cryptocurrency markets.
We also predict that in 2023, there will be more bankruptcies in the crypto money industry and a decrease in investor confidence in the market.”
*Not investment advice.
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