VanEck: BTC Will Fall to $12K in Q1 2023
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According to global investment manager VanEck, the risks of a strong fall in Bitcoin will increase in the first quarter of next year.
Matthew Siegel, head of VanEck’s research division, has said that a scenario in which BTC falls to $12,000 or even to $10,000 cannot be excluded.
According to him, crypto mining companies will not be able to improve their financial performance, and many of them will go bankrupt.
Even if the US Fed refuses to raise the discount rate, cryptos will still remain under pressure and only tech stocks will benefit from the Fed’s refusal to tighten monetary policy.
The VanEck expert has even said that the crypto might fall to $10,000, where it would find bottom.
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