Standard Chartered says bitcoin’s dip below $100,000 ‘seems inevitable’ by this weekend
Standard Chartered's research head predicts Bitcoin will likely fall below $100,000 this weekend, viewing it as a temporary buying opportunity.Summary
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, believes a dip in Bitcoin's price below $100,000 is "inevitable" by the weekend, though he expects the decline to be short-lived and present a buying opportunity. This follows a recent selloff triggered by renewed U.S.–China trade-war fears, which interrupted Bitcoin's rally above $126,000 on October 6.
Kendrick is monitoring gold-to-bitcoin capital rotation flows as a key indicator for stabilization, noting that a recent sharp gold selloff coincided with a Bitcoin rebound, suggesting a constructive sign for forming a low. He also considers tightening liquidity conditions and technical support levels, such as the 50-week moving average, as indicators for a near-term turnaround.
Despite the expected short-term drop, Kendrick maintains a year-end forecast of $200,000 for Bitcoin and a 2028 projection of $500,000. He advises investors to be ready to buy the dip below $100,000, suggesting it might be the last chance to acquire Bitcoin at that level.
(Source：The Block)