Bitcoin While there is a deep decline in the cryptocurrency market under the leadership of the Cryptocurrency Market, many analysts warn investors that further declines may follow.

At this point, Standard Chartered also BTCHe announced that he expected a decrease in .

According to the news of The Block, Standard Chartered analysts said Bitcoin could fall as low as $50,000.

Stating that the Bitcoin price falling below $ 60,000 could be the beginning of further declines to come, Standard Chartered research head Geoffrey Kendrick said the following about the BTC price:

“Bitcoin’s break below $60,000 has now brought the $50,000-$52,000 range back onto the agenda. This decline could mean that BTC could drop as low as $50,000.

“The reason for this decline appears to be a combination of crypto-specific and broader macro concerns.”

Kendrick said crypto-specific concerns include five consecutive days of outflows from U.S. spot ETFs and weak inflows following the launch of Bitcoin and Ether ETFs in Hong Kong.

Finally, the analyst stated that macroeconomic concerns include concerns about inflation and interest rate cuts.

*This is not investment advice.

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