Head of digital assets research at Standard Chartered, Geoffrey Kendrick, says that. Bitcoin’s price is under pressure from macro threats right now and a retracement below $90,000 would be. A good chance to buy in the medium term. Despite the continued market volatility. Bitcoin Kendrick highlighted the need for smart accumulation in a research report dated January 14th.
Buying Opportunities During Price Dips
Since the lender’s long-term predictions for Bitcoin have not changed. He continued by saying that a price decline below critical. Support might provide an advantageous entry point. Notwithstanding short-term swings, the lender’s long-term Bitcoin forecasts have not changed. A possible drop in Bitcoin’s price below key support levels.
Might give investors a chance to buy strategically. Lenders should remain confident in Bitcoin’s potential for growth despite short-term price dips. In fact, for individuals who are planning to cash in on Bitcoin’s inevitable rise, these dips could be viewed as ideal entry points into the market. Bitcoin This view is consistent with the conviction that short-term setbacks may, in the end, result in significant long-term rewards.
Macroeconomic Factors Concerns
Several macroeconomic variables are putting pressure on Bitcoin’s price, which is now trading near $90,000. These factors include the widely expected US consumer price index data and the high expectations surrounding policy pronouncements related to President Trump’s inauguration on January 20. Opinions among experts differ on whether the inauguration will serve as a sell-the-news event or if it will only serve to deepen the economic crisis.
Nonetheless, it is widely believed that if the price of oil breaks $90,000 for an extended period, it might trigger additional drops, perhaps reaching the $80,000 level. Another major worry is ETF unwinding. Kendrick pointed out that spot ETFs and MicroStrategy holdings have purchased Bitcoin at an average price of about $94,000 since the US election.
Standard Chartered Projects Bitcoin
Standard Chartered has reiterated its long-term projection that Bitcoin will reach $200,000 by the end of 2025, notwithstanding the concerns in the short term. Strong institutional inflows and positive economic policies under the next US government are the assumptions upon which the projection is based.
Meanwhile, investors should be cautious in the near term while keeping an eye out for strategic purchasing opportunities, according to Standard Chartered. At least for the time being, Bitcoin has maintained a strong position above the $90,000 mark. Bitcoin The flagship cryptocurrency was trading at $96,593 according to CryptoSlate data as of press time.
Summary
According to Standard Chartered’s Head of Digital Assets Research, Geoffrey Kendrick, Bitcoin’s value is being affected by broader economic issues. But he thinks there would be a good opportunity to buy if the price falls below $100,000. The long-term prediction for Bitcoin, according to Kendrick, is still by 2025, propelled by institutional investments and supportive government policies. While worries about possible price declines and ETF unwinding can produce volatility, short-term swings should be seen as opportunities to accumulate.
