The post Bitcoin Set to Reverse Weekend Decline and Test $100,000, Predicts Standard Chartered’s Geoffrey Kendrick appeared on BitcoinEthereumNews.com.

In a recent analysis by Geoffrey Kendrick, the Global Head of Digital Asset Research at Standard Chartered Bank, it was highlighted that Bitcoin is poised for a potential reversal after experiencing five consecutive weekends of declines. These setbacks have largely been attributed to adverse news events affecting market sentiment. Kendrick expressed optimism that a modest uptick this weekend could stimulate significant ETF inflows on Monday, potentially propelling Bitcoin towards $100,000 and even testing the key level of $102,500. The past weekends, particularly those influenced by events like DeepSeeks and trade tensions between Canada and Mexico, have contributed to Bitcoin’s fragility. Kendrick remarked humorously on the prevailing sentiment among long-position holders during turbulent times. However, he believes that the bearish narratives have largely been absorbed by the market. Notably, a drop in the 10-year U.S. Treasury yield below 4.5% could further bolster Bitcoin’s recovery trajectory, creating a favorable environment for risk assets. Furthermore, Kendrick’s audacious forecasts suggest that as market dynamics evolve, Bitcoin may see substantial appreciation, with predicted values reaching $200,000 by 2025 and escalating to $500,000 by the close of 2028. His bullish outlook underlines the growing institutional interest and diversification within investor portfolios, positioning Bitcoin as a prominent player in the digital asset landscape. Source: https://en.coinotag.com/breakingnews/bitcoin-set-to-reverse-weekend-decline-and-test-100000-predicts-standard-chartereds-geoffrey-kendrick/

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Filed under: News - @ February 16, 2025 3:27 am