Cryptocurrencies have been on a rollercoaster ride lately, with Bitcoin falling below $58,000 and Ethereum hitting a 7-month low. The decline is attributed to several factors, including rising US Treasury yields and strong economic data that is fueling expectations of interest rate hikes. However, Standard Chartered expects Bitcoin to hit $50,000 this year and $120,000 by the end of 2024, suggesting a potential rebound.
