Bitcoin, a major cryptocurrency, experienced a sharp decline amid rising economic uncertainty following President Donald Trump’s tariff announcement.
Despite these declines, Bitcoin (BTC) is firmly held at $82,000, surpassing most tech stocks.
Bitcoin’s strong stance strengthens bullish expectations among analysts, but Standard Chartered has released a new analysis.
Noting that Bitcoin outweighs most tech stocks and remains strong during recent market sales, the standard charter style is called Bitcoin A Strongman.
The bank, which advised investors to HODL, predicted that BTC could reach $88,500 this weekend.
As sales in traditional financial markets continue due to Trump’s tariffs, Bitcoin has been bolstered and is now trading as a “US isolation” measure, said Jeffrey Kendrick, Digital Asset Manager at Standard Chartered.
“I have argued up until now that Bitcoin is almost traded like a tech stock rather than gold.
However, Bitcoin has shown relative strength over the last 36 hours, with the Tradfi market weakening and MAG7 shares falling.
Bitcoin has also proven to be the best in the technology sector (potentially upwards when stocks rise), and hedges multiple scenarios.
“After payroll data, a break above the important level of $85,000 appears likely today, which could open the door to return to the pre-term level of $88,500 by the weekend.”
Kendrick’s analysis shows that investors are increasingly worried about the rise in fear and fear of the US recession, and Kendrick advises investors to “Hodl.”
*This is not investment advice.
