"Will Bitcoin not drop below 100 thousand dollars?"

The globally renowned bank Standard Chartered's head of digital asset research Geoffrey Kendrick stated that Bitcoin is facing a historical turning point this week. Kendrick expressed that if Bitcoin surpasses certain levels within this week, its price will never fall below 100,000 dollars again.

Kendrick emphasized that the easing of trade tensions between the US and China could provide significant recovery in the crypto market and overall risk appetite. In a note he published at the beginning of the week, he said, "If this week goes well, Bitcoin will never go below 100,000 dollars again."

This positive assessment was further strengthened by statements made by US Treasury Secretary Scott Bessent. Bessent mentioned that China could postpone restrictions on rare earth element exports by one year, and the US might withdraw the threat of a 100% customs duty. These developments are expected to be formalized during the meeting between Trump and Xi Jinping in South Korea on Thursday.

Kendrick noted that if Bitcoin reaches all-time highs again, the long-standing halving cycle theory may come to an end. According to the analyst, ETF inflows have become far more effective than the halving processes. "If Bitcoin breaks the record this week, everyone will accept that the halving cycle is dead," he said.

Kendrick also emphasized that the ratio between Bitcoin and gold is rising again and that this reflects a shift from fear to optimism in the markets. According to the analyst, if this ratio exceeds the level of 30, it will confirm the end of the period of fear.

After this, all eyes are on the Fed's interest rate decision and the earnings reports of major tech companies. Kendrick stated that the expected 25 basis points interest rate cut to be announced on Wednesday would be a positive development for Bitcoin. On the same day, Microsoft, Meta, and Google will announce their financial results, while Apple and Amazon will present similar reports on Thursday. Crypto companies Strategy and Coinbase will also share their financial reports this week.

As a result, if all these developments turn out positively this week, Bitcoin looks likely to never see below 100,000 dollars again.