Standard Chartered‘s Geoffrey Kendrick on Wednesday cautioned that digital asset prices are poised for a potential 10-20% correction as “hope” that is currently driving the markets fades.
This assessment comes after President Donald Trump’s day one executive orders made no mention of digital assets, causing an immediate negative effect on prices.
According to Kendrick, current market optimism is based on speculative hopes, which are unsustainable.
Kendrick’s note suggests that this initial drop is “phase 1” before an eventual rebound.
This is based on the fact that it may take “several weeks/months” before the new administration acts on its promises around digital assets.
With the digital asset sector …Full story available on Benzinga.com
Bitcoin Could Drop Up To 20% As Trump ‘Hope’ Fades, Standard Chartered Warns
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