The cryptocurrency market experienced a major crash on October 11th, triggered by US President Donald Trump’s statements regarding tariffs on China. This crash caused the largest liquidation ever seen in the crypto markets, and the debate surrounding the October 11th crash continues.
The last people to speak about the collapse were Standard Chartered analysts.
Standard Chartered said that despite the massive crash on October 11th and the $19 billion in forced liquidations, Bitcoin still has the potential to rise to $200,000.
Despite the Crash, $200,000 in Bitcoin is Still Possible!
Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, said that BTC could reach the $200,000 level by the end of the year despite US President Donald Trump’s threats of large-scale tariffs.
Kendrick said the $19 billion market crash could be a buying opportunity for Bitcoin once the dust settles in the coming weeks, paving the way for a $200,000 price rally.
Despite the volatility, the analyst stated that he is confident that Bitcoin will recover as markets stabilize.
At this point, Kendrick stated that although the size of the collapse is large, the declines are temporary and Bitcoin’s rise will continue.
Kendrick added that the main drivers of BTC’s rise will be inflows into ETFs and Fed interest rate cuts.
Stating that there is no reason for ETF flows to stop, Kendrick said that positive narratives such as the US government shutdown and the expectation of a Fed interest rate cut are reflected in the gold flow, and that it will soon be reflected in Bitcoin, and that increasing ETF flows will be the main driver of Bitcoin’s rise.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/standard-chartered-says-despite-historic-crash-bitcoin-bull-run-isnt-over-shares-year-end-price-forecast/
