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BitcoinSistemi 2025-03-12 07:07:08

Is Bitcoin's Fall Completely Over? What's Needed for a Rise? Standard Chartered Explained!

Bitcoin and altcoins have lost a lot of blood in the downtrend that has been going on for weeks. While BTC has fallen below $80,000, prices in altcoins are also at rock bottom. As investors wonder if the decline will continue and when the rise will begin, Standard Chartered has released its updated forecast. Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, said Bitcoin’s recent decline was due to weakness in broader risk assets rather than crypto-specific issues. Stating that the recovery in Bitcoin depends on the FED, Kendrick said that positive news such as the FED's interest rate cuts are needed for the BTC price to recover. “Positive news specific to BTC, such as FED or purchases from the US and other countries, could boost Bitcoin. It is important that macroeconomic concerns, particularly those related to tariffs, are resolved quickly. “If the probability of a rate cut at the FOMC meeting in May increases after today's CPI, Bitcoin could recover. However, if that doesn't happen and the downtrend continues, Bitcoin could fall to $69,000.” Stating that the $200,000 BTC target for the end of 2025 is still valid, Kendrick stated that although market uncertainty has increased with Trump's tariff policies, next week's FED interest rate decision is an important test for Bitcoin's course. CoinDCX Ventures General Manager Rohit Jain also stated that the FED's interest rate decision is important for Bitcoin and altcoins. If interest rates remain steady at next week's FOMC meeting, it could impact sentiment toward risk assets, Jain said. “This hesitation to cut interest rates could trigger further declines in cryptocurrencies. Bitcoin could test support levels around $70,000 in the coming days, while altcoins like Ethereum and Solana could continue to decline,” Jain said. *This is not investment advice. Continue Reading: Is Bitcoin's Fall Completely Over? What's Needed for a Rise? Standard Chartered Explained!