According to a note by Standard Chartered entitled “The financial-market surprises of 2023”, Bitcoin (BTC) could drop to $5,000 next year:
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,
wrote the bank’s head of global research Eric Robertsen.
However, Robertsen also said that these extreme scenarios “have a non-zero probability of occurring in the year ahead, and ... fall materially outside of the market consensus or our own baseline views.”
It should also be noted that other possible upsets for 2023 include:
- a fall in oil prices,
- the impeachment of U.S. President Joe Biden,
- and a collapse in food prices.
In fact, this list is not intended to predict high-likelihood events but to consider situations with a non-zero chance of happening which are currently not part of market consensus.
Therefore, this kind of prediction is of course interesting, but in reality no one knows if it is likely to happen... Otherwise these analysts could simply short Bitcoin and become rich... But as a matter of fact, they will continue to write such reports instead of doing so, which shows they are not so confident in their predictions. As we all know here, writing is easy, but making money by investing is challenging, whatever the amount you decide to invest.
Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.
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