Alright, so Standard Chartered Bank anticipates Bitcoin might plummet to $69,000! Their digital currency research chief, Geoffrey Kendrick, foresees further disadvantage despite the latest slump where Bitcoin plunged under $79,000 on Friday. He is forecasting a decrease to somewhere in the range of $69,000 and $76,500 preceding any bounce back. Toncoin (TON) Value Forecast for March 26th
Kendrick isn’t accepting the possibility of an expeditious recuperation, particularly over the weekend, specifying the danger of a “frenzy auction” connected with long positions in Bitcoin ETFs.
The digital currency marketplace has previously lost an enormous $1.2 trillion since December, sitting at a $2.7 trillion assessment right now. This week alone, it shed 13% of its worth, which is about $450 billion!
Besides the typical suspects like the Fed’s strategies, image coin dramatization, and indeed, even a $1.5 billion hack on Bybit, some are pointing fingers at Trump’s levy dangers from March fourth as a trigger for this current week’s wreck.
Cosmos Research’s Alex Thorn likewise figures Bitcoin could drop to $74,000, so Kendrick’s not alone in his negative viewpoint.
However, a few market spectators are expressing this is simply a fleeting minor departure from the norm.
Bernstein and Standard Chartered, prominent figures on Wall Street, continue to express assurance that Bitcoin values may exceed the $200,000 threshold.
Their positive outlook on Bitcoin is based on solid reasons.
While Trump’s tariff policies may have accelerated the decline of the crypto sector, his commitment to relax cryptocurrency regulations certainly offers possible advantages to the field.
Following Trump’s electoral victory, numerous legislators voiced backing for legislation designed to encourage innovation.
Crucially, market analysts have informed DL News that the probability of altcoin ETFs gaining approval is growing, fintech firms are still entering the sector in large numbers, and significant organizations are still enthusiastic about digital assets.
Eric Johansson serves as the news editor at DL News. Have a news tip? Send an email to [email protected]. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
