Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 ‘surprise’

$Bitcoin (BTC.CC)$ could drop to $5,000 next year in a market surprise that investors are under-pricing, according to Standard Chartered, marking a 70% plunge from the current level of around $17,000.
In a note entitled “The financial-market surprises of 2023,” Standard Chartered outlined a number of possible scenarios that “we feel are under-priced by the markets.”
Standard Chartered said rising yields along with a plunge in technology stocks will lead to an acceleration of the bitcoin sell-off and cause further bankruptcies and collapses in the crypto world.
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