The head of the digital assets research department at Standard Chartered Bank, Geoffrey Kendrick, predicted a significant decline in the prices of Bitcoin and Ethereum due to worsening macroeconomic conditions and weakening market sentiment.
In his assessment, Bitcoin may decrease by around 26% in the near future — from $67,000 to $50,000, while $ETH risks losing about 29% and dropping from $1950 to $1400.
Kendrick links the potential decline to the weakening of the U.S. economy and the delay in the Federal Reserve's easing of interest rates at least until June. Additional pressure on the market is exerted by the reduction in the inflow of funds into exchange-traded funds (ETFs) tied to Bitcoin and Ethereum: while these investment instruments previously fueled market growth, now many trading sessions end with a net outflow of funds.
Last week, against the backdrop of falling stocks of technology companies and precious metals $BTC it fell to $60,000 — the lowest in 16 months, while Ethereum dropped to $1,751, its lowest level in nine months. Later, both assets partially recovered; however, according to the analyst, they remain under bearish pressure as investor interest in risk assets declines.
Despite short-term risks, the long-term forecast #StandardCharted Chartered remains unchanged. The bank expects that by the end of 2030, Bitcoin could reach $500,000, Ethereum $40,000, and Solana $2,000. In 2024, ahead of the U.S. presidential elections, Kendrick predicted Bitcoin could rise above $USDT 150,000 if Donald Trump wins, which he believes could mark the beginning of a bull trend. Recently, the analyst revised the forecast for Solana, expecting a price of around $250 by the end of the year instead of the previously forecasted $310.