{"id":15180,"date":"2022-12-06T01:38:39","date_gmt":"2022-12-06T01:38:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-could-fall-to-5000-next-year-markets-and-prices-bitcoin-news\/"},"modified":"2022-12-06T01:38:39","modified_gmt":"2022-12-06T01:38:39","slug":"bitcoin-could-fall-to-5000-next-year-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-could-fall-to-5000-next-year-markets-and-prices-bitcoin-news\/","title":{"rendered":"Bitcoin Could Fall to $5,000 Next Year \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Standard Chartered Bank says the price of bitcoin could drop to $5,000 next year. The bank\u2019s analyst explained that cryptocurrencies could fall further and more crypto firms could \u201csuccumb to liquidity squeezes and investor withdrawals.\u201d<\/strong><\/p>\n

Standard Chartered Bank\u2019s $5K Bitcoin Scenario<\/h2>\n

Standard Chartered Bank published a note titled \u201cThe financial-market surprises of 2023\u201d Sunday. The note outlines a number of possible scenarios that \u201cwe feel are under-priced by the markets,\u201d wrote Eric Robertsen, Standard Chartered\u2019s global head of research.<\/p>\n

One of the scenarios is bitcoin\u2019s price dropping to $5,000 next year, which would be about a 70% drop from BTC<\/a>\u2019s current price of around $17,000.<\/p>\n

Robertsen detailed:<\/p>\n

\n

Yields plunge along with technology shares, and while the bitcoin sell-off decelerates, the damage has been done. More and more crypto firms and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.<\/p>\n<\/blockquote>\n

The Standard Chartered analyst clarified that the extreme scenarios outlined \u201chave a non-zero probability of occurring in the year ahead, and \u2026 fall materially outside of the market consensus or our own baseline views.\u201d<\/p>\n

While noting that cryptocurrencies could \u201cfall further\u201d and more crypto firms could \u201csuccumb to liquidity squeezes and investor withdrawals,\u201d Robertsen said gold could rally as much as 30% to $2,250 per ounce and re-establish itself as a safe haven. He described:<\/p>\n

\n

The 2023 resurgence in gold comes as equities resume their bear market and the correlation between equity and bond prices shifts back to negative.<\/p>\n<\/blockquote>\n

Commenting on Standard Chartered Bank\u2019s $5K bitcoin price outlook, gold bug and economist Peter Schiff reiterated<\/a> his prediction that BTC<\/a> has much further to fall. He tweeted Monday:<\/p>\n

\n

Bitcoin has far more downside risk than 70%. After such a decline bitcoin will still be way over-priced, so $5,000 will not even be close to the bottom.<\/p>\n<\/blockquote>\n

Recently, veteran investor Mark Mobius<\/a> said that bitcoin could fall to $10,000 next year as the Federal Reserve continues to hike interest rates and tighten monetary policy.<\/p>\n

However, some people are still optimistic about the price of bitcoin. Venture capitalist Tim Draper<\/a>, for example, has doubled down on his BTC<\/a> price prediction of $250,000 by the middle of next year.<\/p>\n

Do you think bitcoin will drop to $5,000 next year? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n