Experts: BTC will fall to $10,000 in 2023

Cryptocurrency exchange Binance bought a stake in the U.S. edition of Forbes for $200 million, reports CNBC. According to sources, the resultBinance will become one of the largest shareholders of the publication.

Binance invested $200 million in exchange for an undisclosed prelu. The deal will help Forbes finalize preparations to go public via SPAC in the first quarter of 2022. It will trade under the ticker FRBS.

According to sources, the Binance investment will be part of the $400 million that Forbes owesand was attracted from frequent investors. As a result, the crypto-exchange will become one of the largest shareholders of the.Legendary billionaire investor and founder of Miller Value Partners Bill Miller in an interview with CNBC called bitcoin an insurance policy against financial disaster and said that he still keeps a significant portion of personal funds in the first cryptocurrency.

"Bitcoin is insurance against financial disasters like the one we saw in Lebanonor Afghanistan, or many other countries where this was observed during the pandemic," he said.

Miller said the thesis that bitcoin has no intrinsic value is flawed. He compared the digital asset to collectibles like baseball cards and Picasso paintings.

"It's like an insuranceolis. Insurance policies have no intrinsic value. In fact, you want them to have no intrinsic value. You don't want your house to burn down and you don't want to get into a terrible accident, but you pay for insurance every year in case that happens," the billionaire said.

Miller also noted that the media is incorrect interpreted the words he said during a January interview with WEALTHTRACK. At the time, it was reported that the billionaire had invested half of his personal fortune in bitcoin and other cryptocurrencies.

He explained that he invested only a few percent of his fortune in digital assets, which then, as the cryptocurrency market grew, pThe first time I was in the city, it was half of his personal funds.

"Now this amount is less because the price has fallen by half since November. But it's still a very big position," Miller added.

Recall, in November 2021, the billionaire called bitcoin digital gold and compared his bet on it to buying Amazon stock during the collapse of the dotcom bubble.At the beginning of the week, BTC continued to rally, reaching a high for the month - $45,000, and despite some correction of the cryptocurrency, the general mood remains "bullish.

However, some experts warn that bitcoin and other cryptocurrencies could fall even more, and by a lot.

Is BTC worth the path to fall to $10,000 in 2023? Let's try to get the opinions of experts.

Barry Bannister, chief strategist at Stifel, spoke in an interview with Barron's about the possibility of BTC/USD falling to $10,000 under the influence of Fed action.

"When the Fed tightens [monetary policy], bitcoin is not a good place tothen for investing money," he said, adding, "Because of the Fed's excessive policy tightening, bitcoin will fall to $10,000 by 2023.

He explained that BTC is "a very powerful way to play on Fed money losing or gaining value." History shows that when Fed monetary policy is weak, bitcoin rises. When Fed policy is reversed with monetary tightening, bitcoin goes down, which Bannister says has been the case since 2012.

"The Fed has said, 'We're not going to give you money for free forever,'" Bannister summed up. - It may have little effect this year, but in 2023 the Fed will probably go too far and bitcoin will be crushed," he added, noting that the Fed has a habit of tightening its policies "until the straw breaks the camel's back. It tightens too much, the market cracks, and you end up with a bear market - that's the story.

Another expert, Vikram Mansharanmani, a professor at Harvard University, also warned that turbulence for bitcoin and other cryptocurrencies in general is far from over, also ukThe monetary policy is currently the most important factor affecting the price of BTC.

"I think there will be a lot of activity in decentralized finance and cryptocurrencies," he told Yahoo Finance. - It's going to be a really exciting world in the 5-year horizon and beyond."

There will be a lot of volatility, he added. "You should 'buckle down' and go for a ride, but it's probably going to be fine."

"I think we have to pay attention to what's going on with central banks," he stressed. - Es.and their political motivation is to continually print money and depreciate currencies, then investors, to hedge against this risk, should buy currencies that cannot be printed, things that will always be in short supply."

Historically, that has been gold, silver, and precious metals. But in the modern era - a digital era that can attract young people and those people who are more digitally adapted - you might think that cryptocurrencies and bitcoin could be a digital version of non-printed currency, Banniste stressedр.

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