Bitcoin Could Drop To As Low As $88,700: Standard Chartered
Geoff Kendrick, a digital asset researcher at Standard Chartered Bank, believes that Bitcoin may fall to $88,700. He believes that the catalyst for Bitcoin’s recent price decline was Bessent’s announcement of a reduction in the term premium of U.S. Treasury bonds. Kendrick added that in the short term, Bitcoin’s rally may slow because one of its core uses is to hedge against traditional financial problems. However, in the long term, Bitcoin will continue to rise, Kendrick noted, predicting that Bitcoin reaching $125,000 by the end of this year and $200,000 by the end of 2025 are still possible.
