Standard Chartered predicts that Bitcoin could reach $50,000 this year and $120,000 by the end of 2024. The bank predicts that rising Bitcoin prices could encourage Bitcoin "miners" to hoard more of the Bitcoin supply. In April, Standard Chartered published a forecast that the so-called crypto winter was over and that Bitcoin would reach $100,000 by the end of 2024, but the bank's top foreign exchange analyst Geoff Kendrick said that this forecast now has 20% upside.

Kendrick said in a report that the increased profitability of miners mining Bitcoin means that they can reduce sales while maintaining cash inflows, reducing the net supply of Bitcoin. This pushes up the price of Bitcoin. I think it is still difficult to reach $50,000 by the end of the year. The Federal Reserve is still tightening its policy. Big funds are afraid to move now and are waiting for an opportunity: interest rate cuts. Once interest rate cuts begin, big funds will move frantically, and various capital markets will usher in a wave of prosperity.

Fed's Daly said that we may need to raise interest rates several more times this year: when formulating monetary policy now, we must rely on economic data. It is appropriate to slow down the pace of interest rate hikes: the risks of insufficient action outweigh the risks of taking too much action: the inflation rate is still too high, and interest rates need to continue to rise. The United States is now at the end of the interest rate hike cycle, and even if there is a rate hike, it will not be too much, just wait for the arrival of the surprise cycle.

BTC：

Bitcoin had a strong rally today, with the highest rebound reaching 31,000, and then falling back slightly, which shows two points. First, the bulls are willing to continue to pull the market upwards, and second, the selling pressure above 31,000 is still relatively large. Hua Ge expects that if it rushes up to 31,000 a few more times and consumes the selling pressure, there is a high probability of hitting a new high. In terms of operation, it is recommended that everyone continue to hold. 29,500-30,000 is still a low-absorption range, and it will become dangerous if it falls below 29,500.

eth:

Ethereum's 120-day moving average has withstood the test and rebounded again. Hua Ge suggests that before it falls below 1815, ETH can be bought at a low price and held to drive the price up.

BCH：

BCH's surge was an opportunity to take profits in batches. Today it surged again and then fell back. It is very likely that it has reached its peak. It is not recommended to buy in the short term.

ARB：

arb is still in an adjusting trend and is below the platform pressure. This trend is an observation trend, not an offensive trend. The main observation is whether the right shoulder of the head and shoulders bottom can be formed. If it can be formed, it will be a very good opportunity for rising. Currently, it is recommended to wait and see.

LTC:

LTC has rebounded after a pin-point correction, and has already pulled back a lot from the highest point. Today, the bulls are attacking again. It is possible that the short-term correction will end and a new wave of rise will begin. It is recommended to continue holding the currency in terms of operation.

ETC：

ETC bulls are also ready to move now. There should be another wave of doomsday chariots, but we don’t know when it will come. It is recommended to hold on first.

Platform Coin:

There is no hope for bgb to rise, please pay attention to the risks in the short term, and it is recommended to reduce positions in batches.

The above analysis is for reference only and does not constitute investment advice!