Standard Chartered: Bitcoin at $64K Is a “Screaming Buy,” Maintains $100K Target

[sergiorus]

According to The Block, Standard Chartered’s Head of Digital Assets Research Geoffrey Kendrick said recent concerns surrounding Strategy reflect a communication issue rather than balance sheet weakness.

Kendrick expects STRC to recover toward its $100 par value, which could reduce the need for further bitcoin sales by Strategy. The bank reiterated its year-end 2026 bitcoin target of $100,000 and described BTC at around $64,000 as “a screaming buy.”



Source: https://www.theblock.co/post/407884/communication-challenge-nothing-more-standard-chartered-keeps-100000-bitcoin-target-calls-strategy-selloff-a-signaling-problem

[logfiles]

I know some people are waiting for a lower bottom which may or may never happen. Based on the previous all-time high, getting BTC at 60K is not a bad deal especially if someone has their eyes on long time price.
In the past MicroStrategy would buy Bitcoins at around $40K -50K when people thought it was crazy, but then BTC would go all the way to 120K after a few years

[Churchillvv]

It already screams buy buy, because it’s not going below reasonable lines of decline so it’s a valid reason to have started buying all the way back at 59k so for them it only start screaming buy when they purchase power is up for STRC but for a regular investor it has been on the buy scream. I think by now most people who usually pay attention to their moves have reduced because of the sells they did and whether they sell further or buy its going to sound regular.

[sergiorus]

I know some people are waiting for a lower bottom which may or may never happen. Based on the previous all-time high, getting BTC at 60K is not a bad deal especially if someone has their eyes on long time price.
In the past MicroStrategy would buy Bitcoins at around $40K -50K when people thought it was crazy, but then BTC would go all the way to 120K after a few years

I agree. When BTC is at $100k (and it would be even close to its ATH), whether one purchased at $60k or at $55k would make little difference.

And as the price goes further up, the difference will be shifting from little to none.

[passwordnow]

It can potentially go down but instead of Standard Chartered telling what people should do, they should do it silently and keep on buying and put where their mouth is.

I think by now most people who usually pay attention to their moves have reduced because of the sells they did and whether they sell further or buy its going to sound regular.

And they want to make sure that their buying price will be worth it and in the lowest. But doing that is a hard task when the market has been so volatile, getting to the possible dip of this cycle is not going to happen mostly. So, what they can do is to DCA and do it whenever they think they hit the dip.

[JeffBrad12]

It's a good buy if you some folks out there want to start their DCA journey.
This price could be the bottom, or go a little bit lower. Even if it goes lower it won't be that painful since you are DCA-ing and current price is already vastly undervalued compared to 6 months ago.
I also on the same board who thinks Strategy selling fud has already priced in and won't put as much influence as it was in the future.

[cryptomaniac_xxx]

It's a good buy if you some folks out there want to start their DCA journey.
This price could be the bottom, or go a little bit lower. Even if it goes lower it won't be that painful since you are DCA-ing and current price is already vastly undervalued compared to 6 months ago.
I also on the same board who thinks Strategy selling fud has already priced in and won't put as much influence as it was in the future.

Well if someone should start, then it should be at the start of this year. Although, we all know that doing DCA takes time, and maybe there is no perfect time as long as you will continue to do so in the next couple of years or at least in this cycle.

So yeah, it could be screaming to buy at $64k or at least in the $60k'ish and then have the mentality to do so. $100k is a very easy target as we have reach that already, maybe the goal should be at least $200k++ before thinking of selling.

[Don Pedro Dinero]

Well, we all know here that no matter how many past predictions someone has got right, and no matter how sophisticated their analysis, nobody really knows what’s going to happen. So, as Standard Chartered’s view may be just as valid as mine, I’m going to give my two cents: to me, this year reminds me of early 2018, when, after a peak and predictions that the price was going to the moon, we entered a crypto winter whilst you saw loads of predictions like this one, saying that the price was going to recover and that we’d soon be heading for the moon again – something that didn’t start to happen until late 2020, with the recovery from the COVID crisis. I could be wrong, of course, but I think we’ve still got a long way to go through this winter.

[crwth]

Well, it's a nice thing to really get, if we get there. The target $100k is nice knowing that it has been achieved already and feels like it's undervalued.

Right now, I don't think that the timing is right. Checking it at a macro level, it's just not aligning. The interest rates, people's emotions, inflation, etc. Maybe if they all align, we can get there.

Personally, I feel like it could still go lower.

[jcojci]

If they described BTC at around $64,000 as a screaming buy, doesn't he see Bitcoin already dump to below $64,000? That is more potentially buying price. But that is already passed and we see Bitcoin back to $64,000 although we don't know this will still increases or back to the lower price.

The market now is at weekend so be careful because usually, the correction coming and makes the price down. We hopes this weekend will not makes the price down deeper but staying at this price level range.