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Cryptocurrency Market Analysis: Standard Chartered's Forecast

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by Giorgi Kostiuk

6 hours ago

The crypto market is experiencing a significant decline. Bitcoin and altcoins have fallen markedly, raising questions about when the recovery might begin.

Decline in the Crypto Market

Bitcoin and altcoins are under pressure due to a broader risk-off sentiment in the markets. BTC has fallen below $80,000, and altcoin prices are at rock bottom.

Impact of FED's Decisions on Bitcoin

Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, suggests that Bitcoin's recovery depends on the FED's policies. Positive news, such as interest rate cuts, could support BTC's price.

Positive news specific to BTC, such as FED cuts or purchases from the US and other countries, could boost Bitcoin.Geoff Kendrick

Forecasts until 2025

Kendrick maintains that the $200,000 BTC target for the end of 2025 is still valid despite market uncertainty. Next week's decision on interest rates will be a crucial test for Bitcoin's trajectory.

As investors await the FED's decision, the crypto market braces for further challenges and potential recovery if economic news is favorable.

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