3 months ago
Standard Chartered’s caput of integer assets probe believes BTC volition deed $200,000 this twelvemonth and $500,000 earlier President Trump concludes his 2nd term.
US President Donald Trump’s archetypal period successful bureau has been highly volatile for hazard assets, but his medication volition apt beryllium a nett affirmative for Bitcoin successful the agelong run, according to Standard Chartered.
In a Feb. 27 interrogation with CNBC, Standard Chartered’s caput of integer assets research, Geoffrey Kendrick, said helium expects Bitcoin’s (BTC) terms to scope $200,000 this twelvemonth earlier surging to $500,000 earlier President Trump concludes his 2nd term. He cited increasing organization adoption and the potential for clearer regulations arsenic affirmative catalysts.
Geoffry Kendrick responds to “crypto’s $800 cardinal wipeout.” Source: CNBC
Despite caller volatility, crypto markets should go little rocky implicit clip arsenic much institutions follow the plus class, said Kendrick. These players volition besides alleviate the information risks that look inherent to crypto protocols, arsenic evidenced by the caller $1.4-billion hack of crypto speech Bybit.
“What we request are accepted fiscal players, similar Standard Chartered, similar BlackRock and others that person ETFs present to truly measurement in,” said Kendrick. “It’s institutions similar ours that present connection custody businesses that are overmuch much unafraid than the hacks.”
“As the manufacture becomes much institutionalized, it should beryllium safer,” helium said.
Related: House Democrats suggest measure to prohibition statesmanlike memecoins: Report
Bitcoin’s stomach-churning volatility
Since reaching an all-time precocious supra $109,000 successful January, Bitcoin’s terms sank to a much than three-month debased of astir $80,000 this week arsenic President Trump reasserted his tariff threats connected China and allies Mexico and Canada.
Tariffs connected Canadian and Mexican goods scheduled to spell into effect connected March 4 “will, indeed, spell into effect, arsenic scheduled,” Trump said connected Truth Social.
Source: Donald Trump
Bitcoin reacting truthful sharply to tariff threats suggests that the integer plus has go highly correlated with stocks and liquidity conditions, according to marketplace commentator The Kobeissi Letter.
Global Macro Investor Julien Bittel said Bitcoin’s caller pullback is “normal successful bull markets,” particularly aft the monolithic run-up successful terms pursuing the US statesmanlike election.
Source: Jamie Coutts
Meanwhile, Jamie Coutts, main crypto expert astatine Real Vision, said 2 of 3 “core liquidity measures” successful his model person turned bullish pursuing the caller sell-off. Expanding cardinal slope equilibrium sheets and a rising planetary wealth proviso usually bode good for Bitcoin. The lone domino near to autumn is the US dollar.
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