Bitcoin could be worth $5,000 in 2023

Eric Robertsen, a specialist at the giant Standard Chartered, highlighted in a recent note that the “crypto winter” could continue until 2023, with Bitcoin falling in price.

At the beginning of the month, according to a report by Investing, the expert highlighted that the famous cryptocurrency could collapse an additional 70% to what has already been reduced in the year.

This would mean that the main digital asset would fall back to levels of $5,000, not seen since the start of the pandemic in March 2020.

Yields plummet along with tech stocks, and while the Bitcoin sell-off slows, the damage has already been done,” the bank’s head of global research Eric Robertsen wrote in a note.

The forecast is one of the “surprise” scenarios that markets may be overlooking or “underestimating,” the strategist reportedly said. The fall in the price of BTC would be the product of the potential consequences generated by the collapse of the FTX exchange, which could continue in 2023 with more firms declaring bankruptcy in a cascading effect.

OctaFX, an online trading services broker, highlighted in a report that the most popular assets in the year ending were the euro, bitcoin, gold and the Nasdaq 100.

FTX, one of the largest cryptocurrency providers in the world, recently filed for bankruptcy on November 11, leaving millions of debts to more than a million creditors. The event had a negative effect on the industry, impacting prices and pushing other firms out of business.

termometro.economico@eleconomista.mx