Bitcoin fiaytin ‘panic sales’ risk continues to fall to 69,000 dollars is expected to fall. This view is considered as the signal of the deepening decline by analysts.
Standard Chartered analysts are waiting for a harsh decline in Bitcoin price
Standard Chartered said Bitcoin could fall up to $ 69,000. The crypto money market has suffered a $ 1.2 trillion loss since December. Bitcoin declined below $ 79,000 on Friday, but this decline has not ended.
Geoffrey Kendrick, head of the UK -based bank Crypto Research, said Bitcoin expects Bitcoin to fell to a level between $ 69,000 and $ 76,500 and then to recover.
Kendrick rejected the idea that Bitcoin would compensate for his losses during the weekend. Orum I don’t give this much possibility, ”Diten Kendrick said,“ Nowadays, long -term stock market term transactions may be a decision that can end your weekend risk career. So, it is not likely to expect an ascension at the weekend, ”he continued.
Analyst emphasized that traders, which traded in stock market investment funds based on Bitcoin, are at risk against “panic sales”.
General decrease in the market and other factors
This week, crypto currencies have lost 13 %of the total market values, which is about $ 450 billion. The market value is currently 1.2 trillion dollars lower than the peak of December, declining to 2.7 trillion dollars.
The laws that Trump plans to implement against Canada, Mexico and China on March 4 is considered as one of the main reasons for this week’s collapse. Other factors include breast coin scandals, $ 1.5 billion Bybit hack and FED policies. Kriptokoin.comAs we have transferred, Bybit discusses the ethereum network rewind to compensate for the damage.
Kendrick is not only the only one who says Bitcoin has not yet reached the bottom level. Alex Thorn, a senior analyst from Galaxy Research, predicted Bitcoin to fall to $ 74,000.
However, market observers believe that this collapse is temporary. Both Bernstein and Standard Chartered think Bitcoin can reach $ 200,000 in the future.
There are also reasons for these optimistic expectations. Trump’s tariffs may have accelerated the collapse, but it is thought that the promises of loosening crypto laws will benefit the sector. Following Trump’s election victory, many legislators are working on laws aiming to support innovation. In addition, while the approval of Altcoin ETFs becomes more and more possible, FinTech companies continue to enter the sector and institutions continue their interest in digital assets.
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