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Price analysis 12/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT

Published 12/05/2022, 03:10 PM
Updated 12/05/2022, 09:20 PM
© Reuters.
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BTC/USD
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It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered (OTC:SCBFF) suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which could result in more bankruptcies and a fall in investor confidence in the crypto sector.

If this feels like an extreme, venture capitalist Tim Draper went in the opposite direction and predicted that Bitcoin could skyrocket to $250,000 by the middle of 2023. While speaking with CNBC, Draper said that Bitcoin’s massive rally is likely to be fuelled by increased participation from women who control a large part of retail spending.

Daily cryptocurrency market performance. Source: Coin360
SPX daily chart. Source: TradingView
DXY daily chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView

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