Standard Chartered Bank: Bitcoin may continue to fall, it's not yet time to buy at a low price

According to TheCryptobasic, the price of Bitcoin fell to around $86,000 on Tuesday, hitting its lowest level since November last year and falling more than 20% from its historical high in January. The expected surge in cryptocurrency due to Trump's inauguration did not materialize as market risk aversion heated up. Data from JPMorgan shows that outflows from cryptocurrency ETFs reached $544 million last week, indicating a spread of pessimism in the market. Geoff Kendrick, head of digital asset research at Standard Chartered Bank warned: "Bitcoin may see further declines and could pull back another 10%, so don't rush to buy the dip. Although Bitcoin has remained above $90,000 under the optimistic sentiment supported by Trump administration's support for cryptocurrencies, its appeal has been weakened with unfulfilled presidential promises and rising macroeconomic uncertainty."