Will Bitcoin Fall in 2023? 2023 Bitcoin Price Forecast

Dec 28,2022
Will Bitcoin Fall in 2023? 2023 Bitcoin Price Forecast

In the currency circle, it is believed that the old investors are very familiar with Bitcoin, and they all want to make a lot of money from investing in Bitcoin. However, since the beginning of this year, the legend of Bitcoin has come to an end. The falling price has turned this virtual currency into a currency that many people despise. Therefore, some novice investors also ask, will Bitcoin fall in 2023? So, let's take a look.

Will Bitcoin Fall in 2023?

It is understood that Standard Chartered Bank recently predicted that the price of Bitcoin would plummet to around 5000 dollars in the coming year. At present, the price of this currency is US $17073 (about 119000 yuan in personal currency). In other words, if the forecast is correct, the price of this currency will also fall by 70%, which is not surprising. It is worth noting that this is not the only organization that predicts that Bitcoin will also fall in price. Previously, Macbeth thought that Bitcoin might plummet by more than 40% to 10000 US dollars at the current price level; Charlie Munger even blamed digital currency as a loan currency beneficial to "kidnappers".

In fact, it is not surprising that Bitcoin continues to fall in price. Since the beginning of the year, a series of projects and enterprises in the currency circle have gone bankrupt, and the FTX dilemma of the head exchange is also crushing the entire currency circle. The death of successive currency circle leaders has also covered the virtual currency with a lot of dust. In addition, many of our countries do not recognize the legitimacy of virtual currency, and have launched a series of suppression countermeasures against virtual currency. It is estimated that the counter trend of virtual currency has already come to an end.

2023 Bitcoin Price Forecast

The price of Bitcoin is likely to fall to 5000 dollars in 2023. As the price of Bitcoin (BTC) returns to the range of 17000 dollars, the encryption market is still far from recovering due to the spread of FTX. Because of the uncertainty surrounding the FTX liquidity crisis, the top digital currency plummeted to an annual low of $15700 in November 2022. As the end of 2022 approaches, analysts are predicting the performance of the whole cryptocurrency circle and Bitcoin (BTC) in 2023. BTC has been in the range of US $50000 at the beginning of previous years, and has been developing along the curve of steady decline since then.

This year is a disaster for new entrants to the crypto ecosystem that BTC will create a record high of 68000 US dollars in 2021. Several failures of the encryption project and the subsequent negative macroeconomic factors caused a difficult market period in 2022. In addition, analysts of Standard Chartered Bank believe that the price of Bitcoin (BTC) may fall further to the level of $5000 in 2023. Eric Robertsen, the global responsible person, the research department of the bank indicated that the top digital currency may further plummet by about 70% under unexpected circumstances.

The failure of FTX centralized exchange will bring the dust of mismanagement, which will shock the novice digital currency in the coming months. Continuous investors and fanatics who have gone through more complex stages have less influence, and they seem to be absorbing the recent decline with more equilibrium. In fact, Bitcoin had the largest trading volume at all stages on Wednesday, November 30, with the price reaching $17100 for the first time since the commencement of the FTX bankruptcy proceedings (Chapter 11) on November 11.

Speaking of this, I believe you have a certain understanding of whether the price of Bitcoin will fall and the price forecast of Bitcoin in 2023. In general, Xiaobian also reminds investors that although Bitcoin investment is a very popular project, investment is accompanied by certain risks. You must have a comprehensive understanding before entering the site and not blindly invest.