Standard Chartered Says “The Best Days Are Ahead,”...

Bitcoin ($BTC), which rose above $82,000 in the first week of May, has started to decline again due to negative factors such as the ongoing US-Iran tension.

With Bitcoin’s decline approaching its February low of $60,000, the question is whether this trend will continue down to $50,000. While some analysts argue that $50,000 is still possible, others claim that $60,000 will be the bottom.

While there are various predictions for $BTC, the latest detailed analysis comes from Standard Chartered. Accordingly, Standard Chartered stated that after a very difficult week for Bitcoin, the worst period for Bitcoin and the wider cryptocurrency market may soon be over.

At this point, British banking giant Standard Chartered predicts that the Bitcoin sell-off is nearing its bottom and that the price will reach $100,000 by the end of 2026. Ethereum (ETH) is expected to reach $4,000.

Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that Bitcoin is nearing its bottom, noting that spot ETF-based $BTC assets remain structurally strong and that a large-scale buyback is expected from Strategy. He argues that this constitutes strong evidence that the worst of the current sell-off is over.

According to The Block, Kendrick wrote in a note to his clients that the recent sharp decline in the Bitcoin market was nearing its bottom and that the peak of the sell-off had passed. “This week has been painful for Bitcoin and the cryptocurrency market. There’s really no way to put it any other way. But when we see $BTC reaching $100,000 and Ethereum reaching $4,000 by the end of 2026, we’ll see that the current situation is the buying zone we all want.”

Finally, Kendrick cited Strategy’s sale of 32 $BTC as the direct cause of this week’s decline. However, the analyst also gave the example of Strategy selling 704 $BTC for tax purposes on December 22, 2022, and then buying back 810 $BTC just two days later.

Based on this example, Strategy predicted that a more aggressive buyback, this time between 320 $BTC and 3,200 $BTC, could occur.

*This is not investment advice.