Standard Chartered has announced the dip price expecting $150,000 in Bitcoin!
$59,291.1
+1.25%
As a deep decline occurs in the cryptocurrency market led by Bitcoin, many analysts are warning investors of the possibility of further drops.
At this point, Standard Chartered also announced that it expects a decline in BTC.
According to The Block, Standard Chartered analysts said that Bitcoin could fall to $50,000.
Geoffrey Kendrick, the research head of Standard Chartered, who stated that the drop in the price of Bitcoin below $60,000 could be the beginning of further decline, said the following about the BTC price:
"The break of Bitcoin towards below $60,000 now brings back the range of $50,000-52,000. This drop could mean that BTC could fall to $50,000.
The reason for this decline seems to be a combination of crypto-specific and broader macro concerns."
Kendrick said that among the crypto-specific concerns are the consecutive five-day outflows from US spot ETFs and the weak inflows following the launch of Bitcoin and Ether ETFs in Hong Kong.
The analyst finally stated that among the macroeconomic concerns are concerns about inflation and interest rate cuts.
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