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Standard Chartered Bank analyst and head of digital assets research, Geoff Kendrick, believes bitcoin will likely trend higher following the halving due to lower leveraged positions in the market.the current market environment, which has lower leverage, could propel the value of BTC upwards toward Standard Chartered’s end-of-year price target of $150,000.with the crypto market witnessing millions of liquidations in short and long positions as tensions escalated in the Middle East.
Bitcoin fell from $71,000 to $65,000 and then to $61,000 within a day. Over 300,000 traders were wrecked, with liquidations running into $1.8 billion. The bloodshed from that weekend flushed out millions of leveraged Bitcoin positions, with April 13 aloneKendrick said the liquidation of leveraged positions has cleared a pathway for the crypto market to trend higher and that it is poised to move up from its current position.
Although the inflows of spot Bitcoin ETFs have stalled for now, the Standard Chartered analyst expects capital inflows of $50-$100 billion within the next 18 to 24 months as the market matures. Likening the Bitcoin ETF space to that of gold, Kendrick predicted that it could grow by 4.3x as inflows continue over time,How to Stake Polkadot : The Ultimate Guide
AI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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