Markets are underestimating one of the “unexpected” scenarios where the price of the digital currency Bitcoin will drop by 70% to $5,000 in 2023. Eric Robertsen, Head of Global Research, Standard Chartered Wrote Bloomberg agency.
According to Robertsen, the scenario will come true if there are new bankruptcies in the cryptocurrency market and, as a result, investors’ confidence in digital assets falls. He stressed that he did not make predictions, but presented scenarios significantly beyond the current market consensus.
Also, Standard Chartered’s head of global research suggested that gold could start to rise as high as $2.25k an ounce due to the decline in the value of cryptocurrencies.
Gold price on December 5, according to Investing.com platform found The maximum value of this precious metal in 2022 was fixed on March 31, after which gold traded at $ 1.94 thousand.
Early on December 5, Tim Draper, American venture capitalist and founder of Draper Fisher Jurvetson estimatedThat the Bitcoin price could rise to $250,000 per coin in the first half of 2023.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.