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News Explorer — Bitcoin Could Drop to $50,000, Says Standard Chartered

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May 1, 5:26 pm
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Bitcoin Could Drop to $50,000, Says Standard Chartered

Standard Chartered predicts that Bitcoin could fall as low as $50,000 due to a deteriorating macro backdrop and the cryptocurrency's break below $60,000. The Federal Reserve's indication of higher interest rates has scared investors away from "risk-on" assets like Bitcoin, leading to significant outflows from Bitcoin funds. Despite reaching a new record in March, the price of Bitcoin currently stands at $56,900, a 13% drop in seven days.

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