The value of Bitcoin (BTC) is being touted to drop as low as $5,000 in 2023 according to Standard’s Chartered global research head and chief strategist.
The closing months of 2022 have been tumultuous for the wider cryptocurrency ecosystem.
FTX’s bankruptcy proceedings has already led to collateral damage, with cryptocurrency lender BlockFi following in its footsteps due in part to ‘significant exposure’ to FTX and Alameda and obligations that the defunct companies had with the former.
As Cointelegraph previously reported in late November, macro market analyst Henrik Zeberg also outlined a potential surge in the value of Bitcoin alongside other risk assets over the $100,000 barrier.
Hedge fund manager Mark Yusko also touted the potential start of Bitcoin’s next major bull run in the second quarter of 2023 as the ecosystem begins to accumulate BTC in anticipation of the next reward halving event.
Source: Cointelegraph