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Standard Chartered's three 'Ifs' that stand between bitcoin and a market low
Key takeaways
- To say bitcoin BTC$62,562.63 bears are having a great time would be an understatement.
- Amid the gloom, Standard Chartered's global head of digital assets research, Geoff Kendrick, sees a different picture.
- This week's crypto pain was real, Kendrick said, but he thinks "the low is almost in." His case rests on three pillars:
To say bitcoin BTC$62,562.63 bears are having a great time would be an understatement. The cryptocurrency has shed 14% in seven days, falling to levels not seen since the crash in February. Broader crypto markets have taken an equally brutal beating, and most analysts say the situation could deteriorate further if BTC breaks below the critical $60,000 threshold.
Amid the gloom, Standard Chartered's global head of digital assets research, Geoff Kendrick, sees a different picture.
This week's crypto pain was real, Kendrick said, but he thinks "the low is almost in." His case rests on three pillars:
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