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The fall could represent a good purchase opportunity, says the bank.
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The British bank expects Bitcoin to reach USD $ 200,000 this year.
Geoffrey Kendrick, Global Chief of Digital Assets of Standard Chartered, lights the alarms when anticipating a fall that could lead to Bitcoin (BTC) to $ 69,000 in the next few days.
The prediction, which places the collapse between the weekend and Monday, arrives After a turbulent Thursday in which Bitcoin lost ground below $ 79,000and then recover and stabilize around $ 84,000 in the current day.
Kendrick’s analysis does not go unnoticed. “That is a fall that I would like to buy,” said the expert, suggesting that the descent could open a window for those who seek to enter the markethe told The Block.
A roller coaster of prices and liquidations
Thursday marked a critical point for Bitcoin. After falling below $ 80,000, the market showed mixed signals.
Kendrick I expected massive fund exits in the ETFsafter a liquidation of 1.4 billion dollars on Tuesday, when leverage positions collapsed under the weight of movements contrary to traders expectations.
This phenomenon, common in futures trading, occurs when operators use funds to amplify their investments, but the platforms automatically close these positions if the losses exceed the available margin.
Despite the projections, yesterday, The ETF surprised when registering capital tickets for 94 million dollarsaccording to Coinglass data. This marked a turn that allowed Bitcoin to stay afloat above $ 80,000.
For Kendrick, This respite does not eliminate the possibility of more falls in the short term. The market, caught between optimism and caution, observes each movement with attention.
Corrections: an old acquaintance of the upward cycles
Ki Young Ju, founder of Cryptoquant, brings a broader perspective. According to him, Corrections as the current one are part of the DNA of Bitcoin’s upward cyclesas reported by cryptootics.
“A 30% drop is common,” he said, remembering that In 2021 the price collapsed more than 50% before rebounding and reaching a new historical maximum. For experienced investors, these turbulence should not alter the pulse.
In that sense, Young Ju warns against reactive strategies. “Buying when prices go up and sell when they go down is the worst that can be done,” he said. His message seeks to calm a market where emotions often dictate decisions.
For its part, Kendrick maintains an optimistic long -term vision for Bitcoin. In an interview with CNBC on February 27, predicted that Bitcoin will reach $ 200,000 this year and could climb up to 500,000 dollars before Donald Trump concludes his mandate.
Factors such as institutional adoption and greater regulatory clarity In the United States they support its prognosis.
Institutions and tariffs: the backdrop
The global environment also plays its role. Trump’s arrival to power has unleashed A storm in the markets with its aggressive tariff policy.
This week, the president announced 25% of export taxes from the European Union, in addition to measures against Canada, Mexico and China, which are already promised.
These decisions, added to the resolution of conflicts such as those of Russia-Ukraine and Israel-Gaza, They add layers of uncertainty to the market of digital assets.
Kendrick emphasizes that stabilization of prices and lighter regulations They could be the catalyst that large institutions need to bet on Bitcoin.
“We need traditional actors such as Standard Chartered or Blackrock, with their ETF, intervene strongly,” he explained.
Opportunity or risk?
Bitcoin navigates turbulent waters, with falls in view and promises of historical increases on the horizon.
The prediction of Standard Chartered on a decrease to $ 69,000 keeps the market in suspense, while geopolitical tensions and internal dynamics of cryptocurrencies draw a complex panorama.
For some, The fall will be an entrance door; For others, a caution signal. The truth is that, in this game of numbers and expectations, nobody has the last word yet.