Standard Chartered's Geoffrey Kendrick predicts an "inevitable" but temporary drop for Bitcoin ($BTC) to $100,000 this weekend. Despite this short-term forecast, Kendrick remains optimistic, suggesting this dip could be the last time Bitcoin falls below $100,000 before entering a sustained long-term rally.
Yesterday, Bitcoin experienced a dip to $106,000, raising concerns in the market. In light of $BTC's recent performance, Kendrick, the Head of Digital Asset Research at Standard Chartered, shared his prediction in an investor note, questioning how far Bitcoin might fall before finding a stable base.
According to Standard Chartered, a near-term correction could trigger short-term panic selling among retail investors. However, the analysts believe that after this correction, the token might enter a new macro phase. This phase is expected to be driven by institutional adoption, continued ETF flows, and liquidity expansion, which could permanently push Bitcoin's price above six figures.
Currently, $BTC remains volatile, trading around $109,300. This fluctuation could be attributed to large holders adjusting their positions in anticipation of upcoming macroeconomic events and regulatory changes.
The question remains whether Standard Chartered's bold prediction holds significant weight.
Standard Chartered's previous short-term predictions, such as forecasting a $BTC rally to $135,000, proved remarkably close when Bitcoin reached its all-time high of $126,000 on October 6. However, subsequent events, like the US-China trade tensions, led to a rapid market downturn.
The analysts base their long-term bullish outlook on three key catalysts:
- •A significant Gold selloff earlier this week coincided with an intraday bounce in $BTC, suggesting a potential capital rotation from Gold to Bitcoin.
- •Several liquidity indicators have been contracting for weeks, indicating that the Federal Reserve may be halting its quantitative tightening. This could drive more capital into Bitcoin, setting the stage for $BTC's next upward movement.
- •Bitcoin's 50-week moving average has remained strong since early 2023, acting as a robust support zone for the asset. As long as this moving average holds, a dip toward $100,000 is likely to be a healthy correction rather than a structural breakdown.
While Kendrick's prediction of a $BTC dip may cause anxiety among investors, one strategy to mitigate these concerns is to consider buying the dip by redirecting capital toward emerging presale opportunities that offer strong upside potential.
Bitcoin Hyper ($HYPER) is highlighted as a promising contender in this space, having already raised an impressive $24.6 million in its presale, attracting significant attention in the crypto market.
Bitcoin Hyper ($HYPER): Addressing Bitcoin's Limitations Without Compromising Security
Despite $BTC's current market volatility, the token has seen a 64% rally since last October, a notable achievement in the unpredictable crypto landscape. However, Bitcoin's native blockchain still faces challenges in transaction speed, confirmation times, and on-chain fees when compared to networks like Solana and Ethereum. Despite these limitations, Bitcoin is recognized for its unparalleled security.
Bitcoin Hyper ($HYPER) aims to bridge this gap. It is a Layer 2 solution designed to enhance Bitcoin's Layer 1 by offering significantly faster transaction speeds, lower transaction fees, and cross-chain interoperability.
The project plans to integrate with the Solana Virtual Machine to process thousands of transactions in parallel, enabling scalable decentralized applications (dApps) and smart contract support. Additionally, Bitcoin Hyper will introduce a Canonical Bridge to facilitate cross-chain operability while maintaining the integrity and security of Bitcoin's Layer 1.
$HYPER is positioned as the core component of this advanced ecosystem, powering all network functions.
Holding $HYPER is expected to provide users with access to lightning-fast transactions at sub-cent fees, support for smart contracts and dApps, participation in governance, and a comprehensive suite of Decentralized Finance (DeFi) tools.
Bitcoin Hyper's presale has seen substantial success, raising $24.6 million. Notably, a large investor recently acquired $HYPER tokens worth $36,500 just three days prior, indicating growing adoption and confidence in the project.
The token is currently priced at $0.013155, with a dynamic staking Annual Percentage Yield (APY) of 48%. This offers early adopters a final opportunity to acquire tokens at the current lower rate, as the staking APY is designed to decrease as the pool fills, providing an advantage to early participants.