Standard Chartered: Bitcoin May Drop Below 100,000 Dollars

Expectations Changed After Previous Predictions

Standard Chartered analyst Geoff Kendrick predicted three weeks ago that BTC could rise to $135,000. However, the collapse on October 10 and the subsequent weak recovery raised concerns for him. Now, he expects an 'inevitable' dip for Bitcoin, stating that this dip could see prices below $100,000.

Market Determinants

Kendrick points out that the flows between gold and Bitcoin, along with tightening liquidity measures, are fundamental indicators supporting this decline. He emphasized that this drop might be the last opportunity to buy Bitcoin without six-figure prices.