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- Bitcoin to $50K? 😱
Bitcoin to $50K? 😱
International bank Standard Chartered sees Bitcoin dropping to $50,000 and Ethereum to $1,400—but there is light at the end of the tunnel.
📝 What you need to know
Bitcoin’s precipitous price decline isn’t done yet. That’s the view of international bank Standard Chartered, which anticipates “further price downside in the coming months,” with Bitcoin slumping to $50,000 and Ethereum dropping to $1,400.
Still, it’s not all doom and gloom, with the bank’s analyst Geoff Kendrick predicting that BTC and ETH will reclaim $100,000 and $4,000 by year’s end.
In the near term, all eyes are on this week’s release of January’s delayed inflation print, with crypto analysts hoping that lower than expected inflation will “increase pressure on the Fed to cut rates sooner”—a good outcome for risk assets like Bitcoin.
On prediction market Myriad, owned by Decrypt’s parent company Dastan, traders are pessimistic about the prospect, putting just a 31% chance on a rate cut of more than 25bps before July.
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