Standard Chartered Forecasts Bitcoin Could Decline to $50,000 Amid Market Conditions

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

May 1, 2024 22:14

Standard Chartered Bank predicts Bitcoin’s price, currently around $57,000, could drop to $50,000 as it breached the $60,000 threshold. The head of forex and digital assets research, Geoffrey Kendrick highlighted crypto-related concerns like U.S. ETF outflows and the heated response to the launches of Hong Kong ETF. Other influences include macro trends like U.S. liquidity decline and inflation data. Irrespective of the short-term concerns, Standard Chartered maintains bullish 2024-2025 predictions, expecting a potential rise to $150,000 and even $250,000.