Bitcoin (BTC) Price Prediction News: As Bitcoin (BTC) price hovers around the $17,000 mark, speculation is around over the potential bottom. Experts have recently suggested that BTC could have fared a lot better than the current range if not for the FTX collapse. The Sam Bankman-Fried crypto empire meltdown meant that the top cryptocurrency fell to a 2022 low of $15,700. Meanwhile, as 2023 approaches, the crypto community is speculating about the possible bottom price range.
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FTX Contagion To Decide New BTC Bottom?
The recent FTX collapse had potentially cost a few months of price recovery for BTC in the current bear market scenario. However, as more companies face the contagion effect from FTX, uncertainty could prevail in the crypto market. Only after the FTX contagion settles down could the actual Bitcoin price show the underlying momentum from demand and supply dynamics. Recent reports also suggested that BTC could perhaps fall as low as $5,000 in 2023 in wat could be a surprise situation.
As of writing, BTC price stands at $16,965, down 0.82% in the last 24 hours, according to price tracking platform CoinMarketCap.
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