Standard Chartered has maintained its ambitious Bitcoin price target of $100,000 and Ethereum target of $4,000, despite the recent market sell-off that saw Bitcoin dip towards $59,000. Geoffrey Kendrick, head of digital assets research, suggests this decline likely established the cycle's bottom. This reaffirmation signals continued institutional confidence in significant upside potential for major cryptocurrencies, even amidst volatility. Investors should monitor whether these price levels hold as support and if institutional buying accelerates, validating the long-term bullish outlook.
Standard Chartered's reaffirmation of high price targets post-selloff signals unwavering institutional conviction in Bitcoin and Ethereum's long-term value. This suggests major players view current dips as buying opportunities, reinforcing a bullish structural narrative for crypto markets.
This story highlights a divergence between short-term market volatility and long-term institutional conviction. It reveals that sophisticated players are using dips to reinforce positions, suggesting a robust underlying demand structure. This dynamic implies that significant price corrections are likely to be met with strong buying, setting the stage for future appreciation.
Standard Chartered has kept its $100,000 Bitcoin target and $4,000 Ethereum target after the selloff. Standard Chartered digital-assets research head Geoffrey Kendrick said the drop likely set the cycle bottom in his latest note. Bitcoin fell toward $59,000 before rebounding…