Standard Chartered: Bitcoin could drop to $5,000 in 2023

Article Reading Time:
1 min.

Analysts from the transnational financial corporation Standard Chartered named the events of the next year that will affect the quotes of the first cryptocurrency.

Bitcoin could crash in 2023 – BTC price,experts say, could fall to $5,000. According to the company's head of global research, Eric Robertsen, the profitability of many technology companies has fallen markedly, along with their shares, and despite the slowdown in the Bitcoin sell-off, the damage to the industry already applied.

Among other forecasts of Standard analystsChartered next year there is a fall in oil prices, a collapse in food prices and the impeachment of US President Joe Biden. Experts say forecasts should not be viewed as events that have a high probability of happening - but rather as things that have a non-zero probability of happening.

Standard Chartered believes that sharestechnology companies will fall even lower - probably following this, many companies associated with cryptocurrencies, blockchain or non-fungible tokens will go bankrupt. And cryptocurrency startups will face a lack of funding.

Back in September, Standard Chartered analysts published a fairly optimistic forecast
Regarding the cryptocurrency industry, experts even said that Ether (ETH) could overtake Bitcoin.