Bitcoin Will Crash to $5K in 2023?
Is Bitcoin due for more pain in 2023?
Jassimran Singh
6 December 2022
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Bitcoin (BTC) price has fallen by 65% and could fall even further heading into the new year, according to Standard Chartered analysts.
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Eric Robertson, head of global macro strategy and FX research at Standard Chartered, said Bitcoin could plummet by another 70% to $5,000 in 2023.
Decline may happen due to tough interest rate hikes and amid waning investor confidence following a flurry of bankruptcies in the crypto sector.
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‘Weak hands’ Take Drastic Measures
Small holders declined at an alarming rate, selling their holdings amid rising uncertainties.
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Bitcoin Price Projection
Bitcoin’s projections were gloomy even in the near term.No expectations of good news anytime soon