According to the worldwide research head and senior strategist at Standard Chartered, <a href="https://www.cryptoknowmics.com/news/binance-releases-proof-of-reserves-por-system-for-holdings-of-bitcoin">Bitcoin</a> could fall as low as $5,000 in 2023. In a letter to investors released on December 4 by the chief strategist, Eric Robertsen, of the international bank, considered the possibility that a Bitcoin fall would be associated with a rise in the price of actual Gold, as was first <a href="https://www.bloomberg.com/news/articles/2022-12-05/bitcoin-sinks-further-70-in-standard-chartered-list-of-possible-2023-upsets?utm_source=google&amp;utm_medium=bd&amp;cmpId=google&amp;sref=323RPL5z" target="_blank" rel="nofollow noopener">reported</a> by Bloomberg.
<h2>Bitcoin Fall Predictions for 2023</h2>
Robertsen presented possible outcomes for 2023 that might result in interest rate decreases following increases in 2022, additional <a href="https://www.cryptoknowmics.com/news/binance-custody-to-safekeep-wemades-wemix-cryptocurrency">cryptocurrency</a> industry bankruptcies, and unfavorable market sentiment.

In contrast, gold might have an increase of up to 30%, reaching $2,250 per ounce, while Bitcoin could experience an additional downturn in the next year, with a 70% loss from its existing market price.
<h2>The Demise of FTX and Alameda Research</h2>
The overall cryptocurrency ecosystem has seen turmoil in the last few months of 2022. In an already challenging year for the business, Sam Bankman Fried's <a href="https://www.cryptoknowmics.com/news/blockfi-files-for-bankruptcy-protection-following-collapse-of-ftx">FTX</a> bitcoin exchange and hedge fund <a href="https://www.cryptoknowmics.com/news/alameda-research-to-repay-two-large-loans-denominated-in-bitcoin-and-ether">Alameda Research</a> collapsed.

Due in part to significant exposure to FTX and Alameda and liabilities the latter had with the former, FTX's bankruptcy procedures have already caused collateral harm, with bitcoin lender <a href="https://www.cryptoknowmics.com/news/blockfi-files-for-bankruptcy-protection-following-collapse-of-ftx">BlockFi</a> following in its footsteps. In the meanwhile, proponents of cryptocurrencies have offered conflicting predictions for the market in 2023. Tim Draper, a well-known venture capitalist and blockchain investor, predicted that Bitcoin would reach $250,000 next year, stressing his conviction that the FTX debacle would promote further decentralization, BTC acceptance, and user self-custody.

Standard Chartered Predicts Unexpected Bitcoin Fall After FTX Fall

Eric Robertsen, of the international bank, considered the possibility that a Bitcoin fall would be associated with a rise in the price of actual Gold.

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Standard Chartered Predicts Unexpected Bitcoin Fall After FTX Fall

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