Expert warnings on potential Bitcoin drop to $80K, impacted by trade war and economic uncertainties.
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, has cautioned investors to refrain from buying at current prices as there is a possibility of Bitcoin (BTC) dropping to around $80,000. This comes as the price of Bitcoin, which reached $108,000 last month, has plummeted to below $87,000 due to Donald Trump’s trade war, changing expectations of interest rate cuts, and macroeconomic uncertainties. Arthur Hayes, former CEO of BitMEX, has also predicted that with investment funds exiting Bitcoin exchange-traded funds (ETFs), the price of this digital currency could drop to $70,000.
