Standard Chartered: Bitcoin has a short-term possibility of falling below $100,000, suitable for Buy the Dips.

On October 22, Geoff Kendrick, the global head of digital asset research at Standard Chartered Bank, stated that due to concerns over the trade war, Bitcoin may fall below $100,000, but the decline may only be temporary. Additionally, the price movement of gold may indicate that Bitcoin will rebound, as the recent weakness in gold has triggered a brief buying spree for Bitcoin. Since 2023, the price of Bitcoin has remained above the 50-week MA, and this decline may present a good opportunity to Buy the Dips.

BTC-0.53%
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