Standard Chartered Says Bitcoin May Continue Its Fall to $50,000

Despite a long-term bullish outlook, Standard Chartered Bank has warned that Bitcoin could continue its recent fall, potentially declining to a $50,000 price. This prediction comes after Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto market's decline has been a cause for concern for some investors.

Standard Chartered sees Bitcoin falling to $50,000 near-term amid outflows and tight liquidity. The biggest digital coin still has room to fall, the British firm said in a new report. This short-term bearish sentiment contrasts sharply with their longer-term views.

Interestingly, Last month, Standard Chartered raised its end Bitcoin price prediction target to $150,000 from its previous estimate of $100,000. The price could even reach that level by 2025. This highlights the firm's belief in Bitcoin's long-term potential, even amidst current market volatility.

Standard Chartered predicts that the worst may still be yet to come in Bitcoin’s price in the short term. However, they maintains a bullish long-term outlook with a $150,000 target for 2025. Investors should carefully consider both the potential for short-term dips and the possibility of significant long-term gains when making decisions about Bitcoin.