Markets may be underestimating a scenario some analysts consider unlikely but plausible: a sharp 70% drop in Bitcoin to around $5,000 within 2023. This view comes from Eric Robertsen, head of global research at Standard Chartered, as reported by Bloomberg. He framed it as one of several possible outcomes rather than a forecast, highlighting how such a downturn could unfold if fresh bankruptcies hit crypto markets and investor confidence in digital assets erodes. The emphasis was on outlining scenarios that lie well beyond current market consensus, rather than predicting a definite path (Bloomberg).
Robertsen explained that in such a stress scenario, contagion effects could tighten liquidity and trigger a broader risk-off move across crypto assets, potentially dragging volatility higher and prompting asset reallocations toward safer stores of value. The analysis does not merely repeat a bearish narrative; it attempts to map the chain of events that would be required for a dramatic price correction, including tightening funding conditions, rising distress among lenders, and a negative feedback loop that would push prices lower until sentiment shifts significantly (Bloomberg).
In addition to discussing crypto risks, Standard Chartered’s chief research strategist suggested that gold could respond to a crypto downturn by posting gains, possibly reaching around $2,250 per ounce as a hedge against monetary uncertainty and a flight to safety grows in parallel with digital-asset volatility (Standard Chartered). This lens helps explain how traditional safe-haven assets might diverge from cryptocurrencies during periods of stress, offering investors a potential ballast when confidence in crypto wanes (Standard Chartered).
Turning to recent price context, data from Investing.com indicated that gold hit its 2022 high earlier in the year, with the record price observed on March 31. After that peak, gold prices softened to levels around $1,940 per ounce as traders weighed inflation expectations, central-bank policy, and shifting risk appetites. The reference point matters because it frames gold’s potential upside as part of a broader macro picture rather than as a standalone bet on precious metals (Investing.com).
Industry observers also keep an eye on ritual forecasts from prominent technology and finance entrepreneurs. Tim Draper, the American venture capitalist known for his early-stage tech bets, has suggested a scenario where Bitcoin could surge to as much as $250,000 per coin within the first half of 2023. Such projections, while widely debated, contribute to the ongoing conversation about the extreme upside potential in crypto markets and the accompanying risk profile that investors must weigh when considering drastic price movements (Draper).*