Core Viewpoint - Bitcoin's price is expected to dip below $100,000 before potentially reaching a year-end target of $200,000, according to Standard Chartered's Geoff Kendrick [1][2]. Price Movement - Bitcoin's current price is approximately $108,200, having fallen about 12% from its all-time high of $126,000 over the past 16 days [2]. - The asset has experienced a significant drop, reaching as low as $104,800 since its peak [3]. Market Dynamics - The recent price decline is attributed to a "fear-driven selloff" influenced by tariffs and trade tensions between the U.S. and China [2]. - Historically, October and November have been strong months for Bitcoin, with average increases of 19.8% and 46% since 2013 [2]. Comparisons with Gold - Gold has outperformed Bitcoin in recent months, but a recent sharp selloff in gold coincided with a bounce in Bitcoin prices, indicating a potential shift in investor behavior [3][4]. - Gold's price has dropped significantly, from a record $4,381 per ounce to around $4,075 per ounce [4]. Industry Developments - FalconX is set to acquire 21Shares, marking a significant deal in the crypto industry [5]. - Analysts noted that Bitcoin was outperforming gold as geopolitical tensions eased and companies reported strong third-quarter earnings [5].
Bitcoin Primed for Dip to $100K Before 'Uptober' Resumes, Says Standard Chartered