Standard Chartered Warns of Bitcoin Dip Below $100K Before Year-End Rally

Standard Chartered Bank is known for its optimistic Bitcoin forecasts. But now it is warning of a collapse of the Bitcoin price curve below $100,000. This should then clear the way for new BTC records.

Standard Chartered Bank’s chief analyst very pessimistic on Bitcoin

Now even Standard Chartered Bank is getting cold feet: Chief analyst Geoff Kendick writes in his latest Bitcoin report that “a drop below $100,000 seems inevitable, even if this decline may be short-lived.” Bitcoin has been trading fairly stable between $105,000 and $110,000 for days, with other experts viewing this as a “bottoming out.” Kendick points to market psychology, which could cause BTC to have a difficult weekend. At the same time, however, he maintains Standard Chartered Bank’s price target of $200,000 per Bitcoin by the end of the year.

Essentially, Kendick doesn’t offer any new arguments for his current Bitcoin forecast, but simply sets price points slightly offset from other analysts. A bottoming out at under $100,000, followed by a rally to new all-time highs, is expected. Kendick identifies Bitcoin ETFs and the shift from gold investments to BTC as price drivers. Kendick continues to see the trade policy of US President Donald Trump, who is currently at odds with China and threatening high punitive tariffs, as a risk.

Listed Bitcoin companies in the red

Meanwhile, the nervousness in the crypto markets is also spreading to publicly traded crypto companies. Leading Bitcoin company Strategy (MSTR) recorded a daily loss of 7 percent yesterday, while Ethereum company Bitmine Immersion (BMNR) also recorded a daily loss of 7 percent.

Bitcoin miners such as Bitfarms (BITF) and Cipher Mining were hit even harder, with daily losses of 12 percent. Observers point out that Bitcoin miners have been performing impressively on the stock market for months because they want to profitably use their computing power for artificial intelligence . This rally is now being corrected, it is said.

Conclusion: Bitcoin under pressure or about to break out?

As an investor, you know that Bitcoin price forecasts tend to attract attention with catchy numbers. The leading cryptocurrency is currently trading at around $110,000 on Thursday, demonstrating a cautious upward trend. But during the week, Bitcoin ETFs and companies are directly involved in BTC’s price formation, while on weekends, private investors often take the helm.

Furthermore, President Trump also tends to surprise the markets with provocative statements on the weekend. Tomorrow, Friday, it’s US inflation data, which could have a repercussive impact on the Bitcoin price curve in either direction. Therefore, Standard Chartered Bank’s BTC forecasts shouldn’t be taken at face value, but rather viewed as food for thought.

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(Featured image by Kanchanara via Unsplash)

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