Markets are underestimating one of the “unexpected” scenarios, in which the price of the digital currency Bitcoin will fall by 70% to $5,000 in 2023. Eric Robertsen, head of global research at Standard Chartered, spoke about this.

According to Robertsen, the scenario will come true if there are new bankruptcies in the cryptocurrency market and, as a result, investor confidence in digital assets falls. He emphasized that he does not make forecasts, but offers scenarios that are significantly beyond the current market consensus.

Also, the head of global research at Standard Chartered suggested that due to the fall in the value of cryptocurrencies, gold could begin to rise in price – up to $2.25 thousand per ounce.

On December 5, the gold rate is at the level of $1.78 thousand. The maximum value of this precious metal in 2022 was fixed on March 31, then gold was traded at $1.94 thousand.