Experts believe that the price movement of the mother of all cryptocurrencies Bitcoin (BTC) can maintain its momentum if the crypto exchange company FTX does not experience a drastic fall and as a result the market also receives temps.
That streak, investors expect BTC to find it difficult to avoid plunging further to the lowest level from its current price so far hovering in the $17,000 zone in the past 24 hours.
This follows because the ongoing FTX crisis not only causes BTC and other digital assets to continue to 'bleed' badly, but crypto exchange companies also receive a bad impact.
For that reason, the price of BTC can most likely decline to the $5,000 zone in 2023 as the crypto market may continue bearish.
Earlier during the FTX crisis, the digital asset saw a sharp decline to $15,700 while other cryptos also made similar moves.
Speaking from the Chief Economist of Europac.com, Peter Schiff warned investors not to rush to buy a lot of BTC after thinking that a certain price zone is the lowest.
Therefore, the digital asset will make a surprising move by plunging further to lower levels and lead to a number of large losses for investors who bought at a high price.
However, investors are still mesmerized
