Standard Chartered analysts say that bitcoin has reached a local bottom and is ready to rise to $ 200,000

Experts from the international bank Standard Chartered said that bitcoin has reached a local bottom at $ 56,500. According to their estimates, by the end of 2025, the value of the first cryptocurrency will be $ 200,000.

According to the bank’s analysts, the market situation is gradually improving, which allowed them to revise their previous forecast, which predicted a drop in the bitcoin rate to $ 50,000. The reason for the change was positive statistics on employment in the United States, and the Fed’s decision on the key rate, which was not as hawkish as experts had expected.

Such factors proved to be significant for the market, which led to an inflow of $ 595 million in funds into spot bitcoin ETFs. Standard Chartered believes that the attention to bitcoin supports the US budget deficit and public debt, which is a growing concern for the government.

«Investors are looking for alternatives, and bitcoin, which has already bottomed out, will be a profitable hedge against de-dollarization and a decline in confidence in the Treasury market ,» the bank said in a report. Standard Chartered experts believe that Donald Trump’s possible victory in the US presidential election will be a positive factor for the cryptocurrency market, as his administration will «make the regulatory environment more liberal.»

Last week, analysts at Standard Chartered Bank said that bitcoin could continue its decline, falling to $ 50,000.