Standard Chartered’s crypto analyst Geoffrey Kendrick believes Bitcoin’s recent dip below $100,000 may be the last ever, suggesting a strategic buying plan based on technical indicators. The move comes as Bitcoin hovers near its critical 50-week moving average, historically a key support level. Kendrick’s plan involves staged buying to manage risk and capture upside potential. Historical data shows Bitcoin has outperformed gold and equities after market crises, despite being a high-risk asset during stress periods. An analysis of past crises reveals Bitcoin’s resilience and potential for strong returns post-recovery. Recent market episodes highlight Bitcoin’s independent behavior and potential for strong returns once volatility subsides. A $100 investment in Bitcoin since 2020 has significantly outperformed the S&P 500, attracting institutional interest. Bitcoin’s current consolidation around $110,000 masks market fragility, with significant short and long positions vulnerable to price movements. Experts have mixed opinions on Bitcoin’s future, with some cautious about potential corrections due to market overheating and geopolitical risks. Others remain cautiously optimistic, projecting higher price levels if key resistance levels are broken. Amidst varying opinions, Bitcoin faces the challenge of proving itself as a mature institutional asset in a volatile market landscape.

Read more at Yahoo Finance: Buy Bitcoin Now or Miss Out Forever, Says Standard Chartered Crypto Guru