According to ChainCatcher, Standard Chartered's latest research report directly cut the price expectation of Bitcoin from the original 200000 dollars to 100000 dollars, and pushed the long-term target of 500000 dollars back to 2030.
Analyst Geoffrey Kendrick explained that this rate cut mainly comes from two points:
1️⃣ Market demand is not as strong as previously estimated, with the pace of aggressive BTC purchases by companies like MicroStrategy already slowing down;
2️⃣ The institutional adoption rate of ETFs is also lower than expected, with current quarterly inflows even dropping to 50000 BTC, the lowest since the launch of Bitcoin ETFs in the United States.
Standard Chartered believes that the upcoming rise of Bitcoin will mainly rely on the buying pressure from ETFs, but the short-term pace has indeed hit the brakes.
In summary:
The dream is still alive, it's just that time has been put on a delay button.
