🕵️♂️Standard Chartered Bank provides mid-term buy recommendations for investors and reaffirms its Bitcoin price forecast for the end of 2025.
Geoffrey Kendrick, the head of digital assets research at Standard Chartered Bank, recently expressed the view that Bitcoin's current price level offers a good mid-term buying opportunity for investors.
In his report, he emphasized the importance of strategic accumulation, stating that even with market fluctuations, the long-term outlook for Bitcoin remains unchanged for lenders, suggesting that breaking below key support levels could be a good entry point.
He also mentioned that if Bitcoin truly falls below $90,000, it could drop below $80,000, which would represent an excellent mid-term buying opportunity.
On Monday, influenced by many macroeconomic factors, such as the upcoming U.S. CPI data and expectations surrounding Trump’s inauguration day policy statements, Bitcoin's price briefly fell below $90,000.
Analysts have differing opinions on whether Trump's inauguration will become a selling news event, but most believe that if Bitcoin breaks below $90,000, it could further decline and test the $80,000 level.
Moreover, the sequential closing of ETFs is also a significant issue, as since the U.S. election, the average purchase price of the spot ETF and Bitcoin held by MicroStrategy is approximately $94,000. If it falls below this value, it could trigger more selling and increase the volatility of digital assets.
In summary, Standard Chartered Bank remains optimistic about Bitcoin's long-term outlook, reaffirming its previous prediction that Bitcoin will reach $200,000 by the end of 2025. This prediction is based on expectations of strong institutional capital inflows and favorable economic policies from the new U.S. government.
Additionally, Standard Chartered Bank advises investors to be cautious in the short term, but also to keep an eye out for strategic buying opportunities. Currently, Bitcoin has successfully stabilized above $95,000.
According to Coingecko data, as of the time of this report, Bitcoin's trading price is $97,196.
💬 Do you agree with Standard Chartered Bank's analysis? How will Bitcoin's price trend evolve before and after Trump's inauguration? Leave your thoughts and predictions in the comments section!
