Standard Chartered: Bitcoin may drop to $50,000, Ethereum may fall to $1,400

Geoff Kendrick from Standard Chartered Group stated in a report that persistently weak risk appetite may lead to continued declines in bitcoin and ether over the coming months. He pointed out that a weakening U.S. economy and market expectations that the Federal Reserve will not cut interest rates before June have made the risk environment more challenging, while digital asset ETF holdings have already decreased. He predicts that bitcoin could fall to $50,000 and ether could reach $1,400. According to data from the London Stock Exchange, bitcoin hit a 16-month low of $60,008 on Friday before most recently trading at $67,869, while ether hit a nine-month low of $1,751 on Friday before most recently trading at $1,984.