Standard Chartered: Биткоин ждет обрушение ниже $100 000 к выходным, но это шанс для инвесторов Standard Chartered: Bitcoin set for plunge below $100,000 by the weekend, but it’s a buying opportunity for investors

The head of Standard Chartered’s digital asset research, Jeffrey Kendrick, has suggested that the price of the first cryptocurrency will fall below $100,000 by this weekend, as reported by The Block.

He views the current correction as temporary and sees it as a buying opportunity. Kendrick noted that concerns over the trade war between the U.S. and China interrupted the rally toward an all-time high of over $126,000, leading to a significant drop.

The analyst emphasized that investors should monitor the capital flow from gold to Bitcoin. He pointed out that the recent sell-off in precious metals coincided with an intraday rebound in the price of the leading cryptocurrency.

Kendrick referred to this trend as a «sell gold, buy Bitcoin» flow. In his opinion, such rotations will increase and signal the establishment of a market bottom.

Among other indicators of a potential reversal, he highlighted the tightening liquidity. According to him, the Federal Reserve may respond to the new conditions by halting its quantitative tightening program.

Technical analysis also suggests an impending reversal. Kendrick noted that the 50-week moving average has provided support since the beginning of 2023, when the asset was trading around $25,000.

The analyst advised investors to «be flexible and ready to buy on dips below $100,000,» stating this might be «the last time Bitcoin will ever be below» this level.

Kendrick’s forecast for the end of the year remains at $200,000. By 2028, he anticipates seeing digital gold valued at $500,000.

At the time of writing, Bitcoin is trading around $109,800, having gained approximately 2% over the last 24 hours, according to CoinGecko.

It is worth noting that in July, Kendrick indicated that clients of Standard Chartered’s American division showed greater interest in stablecoins than in Bitcoin.