How long will the decline in Bitcoin (BTC) last? Standard Chartered warned for this level!

Leading crypto currency Bitcoin (BTC) He faced the wave of sales from yesterday evening and fell to below 89 thousand dollars.

While Altcoins see greater losses Ethereum (ETH) %9,5; Solana (Sol) 12.4 %depreciated. The general crypto market fell by 7.4 %in the last 24 hours.

Uncertainty in the market as the reason for the decline in Bitcoin US President Donald TrumpCanada and Mexico to explain customs duty implementation plans.

While investors wonder whether the decline will continue and when the rise will begin again STandard Chartered Global Digital Assets Research Head Geoffrey Kendrick made important statements.

Kendrick, the feeling of avoiding the risk in traditional markets Bitcoin and said it affects the crypto currency sector.

“Bitcoin’s solana -based memecoins and the overall market decline tendency were directed by a wider wave of sales.

However, Bitcoin is still relatively well traded within the crypto currency sector. ”

These levels can be seen before recovering in Bitcoin!

In the short term Bitcoin And the table for crypto currencies is negative, but Kendrick said that he envisages a recovery in the medium term.

Despite the current decrease in the analyst, lower US Treasury returns can support Bitcoin in the medium term.

Kendrick, who opened a parenthesis to the recovery expectation, warned that Bitcoin could fall up to $ 80,000 before a recovery took place.

Bitcoin and crypto currencies trying to fight the decline FEDThe US Personal Consumer Expenditures, which is closely monitored to measure inflation and make an interest decision, will be announced on Friday.

Kronos Research Analyst Dominick John, “Following the data to be announced on Friday, the inflation in the USA seems to be close to 2 %target of the FED and if the rates weaken, a tendency to rise in the medium term may emerge” he said.

*It is not an investment advice.