Standard Chartered Bank suggests buying Bitcoin at below $90,000 and reiterates its year-end price prediction of $200,000

Geoffrey Kendrick, the head of digital asset research at Standard Chartered Bank, said that Bitcoin is currently under pressure from macro risks, and any pullback below $90,000 represents a "mid-term" buying opportunity.

In a research report on January 14th, Kendrick emphasized the value of strategic accumulation during periods of ongoing market turbulence. He added that a drop in Bitcoin's price below key support levels could provide an advantageous entry point as the bank's long-term forecast for Bitcoin remains unchanged. Kendrick stated: "If we do indeed fall (possibly further to below $80,000 after falling below $90,000), I would see it as an excellent mid-term buying opportunity."

Despite short-term risks, Standard Chartered Bank still adheres to its long-term price target of $200k for Bitcoin by the end of 2025 reiterating previous forecasts. This prediction is supported by expectations of strong institutional fund inflows and favorable economic policies under the new US government.

Meanwhile, Standard Chartered Bank advises investors to adopt a cautious attitude in the short term while monitoring strategic buying opportunities.