Standard Chartered issued a disturbing Bitcoin price forecast, as the bank urged investors to brace for ‘more pain.’ According to the bank, Bitcoin could fall to as low as $50,000 in the coming days as sentiment continues to shift bearish.
Geoffrey Kendrick, the British bank’s global head of digital assets research, also noted that Ethereum could dip towards $1,400, in tandem with Bitcoin’s drop, as per the latest Crypto market news today.
Elsewhere in crypto, investors are embracing DeepSnitch AI (DSNT) for its 300x ROI narrative despite the project being in just stage 5 of the presale phase. DeepSnitch AI has expressed clear utility by providing profit-ready market signals to retail investors. The platform also offers easier crypto DYOR and is priced at $0.03985, having scoped $1.594 million in funding.
Standard Chartered predicts a Bitcoin drop to $50k, and Ether drop to $1.4k
According to the crypto market updates today, Standard Chartered’s Geoffrey Kendrick shared with DL News that Bitcoin is deemed to drop by over 26% to trade around $50,000 in the next few months. Kendrick also predicted that Ether (ETH) may drop over 30% in tandem with BTC, pushing its price to $1,400.
This pessimistic outlook echoes the negative sentiment across the market after the market shed over $2 trillion. On Friday, Bitcoin and Ether recorded losses as BTC traded at $67,035, down by 1.4%, while Ethereum was priced at $1,959, down by 1.3%.
Digital asset news: Degens are targeting these coins for big profits this year
1. DeepSnitch AI’s utility fuels FOMO as degens eye 300x
Investors are now looking to rotate into safer havens after Standard Chartered’s pessimistic crypto outlook. One of the options these investors are rotating into is DeepSnitch AI (DSNT).
DeepSnitch AI utilizes AI capabilities to scan FUD changes, sentiment shifts, whale movements, and other on-chain data, making sure investors do not miss any market-moving events.
This clear AI utility has pushed DSNT into global crypto headlines. Recent talks now suggest that its 300x ROI narrative could materialize soon, once DeepSnitch AI launches on exchanges. As a matter of fact, many think that missing out on this crypto could be similar to missing Bitcoin in 2009.
DeepSnitch AI is now going for $0.03985 in the fifth presale stage. The project has raised over $1.594 million, and is targeting to pull more investors with several generous bonus offers.
2. Bitlayer rallies double digits amid a strong bullish run
Bitlayer (BTR) rallied double digits on Friday while Bitcoin and top altcoins recorded losses according to the crypto market news today. As of the time of this writing, this crypto was priced at $0.1503, marking a 12% jump over the past 24 hours.
Zooming out, Bitlayer’s recent rally adds to the ongoing bullish momentum, with the crypto now up by over 75% on the weekly timeframe. Bitlayer is rising significantly due to strong buying interest and a sharp increase in trading volume to nearly $50 million in daily trading volume, marking a 240% surge.
High volume often signals real interest from buyers. Market analyst Crypto Winkle now predicts that BTR could rally towards $0.19000, which is now acting as an upside price magnet.
3. Zcash is back in the spotlight after muted price action
Privacy-focused Zcash (ZEC) made yet another comeback into the crypto spotlight on Friday, per the crypto market updates today. In particular, the coin emerged among the most trending coins today, as shown by Coingecko data.
Zcash’s comeback comes as attention shifts back to privacy-focused cryptos. As of the time of writing, this crypto traded at $233.74, having dipped by 1.8% on the 24-hour timeline. Despite the drop, data shows that investors are still using Zcash as the shielded ZEC coins inch away from a new ATH. This serves as a bullish signal for Zcash.
Conclusion
Crypto market news today suggests that while Bitcoin and Ether are struggling to stay afloat, attention is shifting into high-beta altcoins such as DeepSnitch AI and Bitlayer. These two cryptocurrencies defied the market slump on Friday to record gains.
More attention is, nonetheless, on DeepSnitch AI (DSNT), which has expressed signs to rally up to 300x in the near future. The team recently delayed the launch to allow more time for testing of the AI tools. This shows that the project is focused on high value proposition, rather than mere hype.
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FAQs
1. Why is the crypto market down today?
According to the latest crypto market news today, top coins like Bitcoin and Ether are down today due to continued macro headwinds and growing uncertainty. However, investors are rotating into DeepSnitch for 300x returns.
2. How is Bitcoin performing today?
Bitcoin is down by 1.4% to trade around $67,035 on Friday, per the digital asset news today. More downturn is expected, as hinted by Standard Chartered, but DeepSnitch AI could offer a hedge and gains this year.
3. Is it worth buying new cryptos now?
Yes, it could be worth buying new cryptos now despite the negative global crypto headlines. While not yet launched on exchanges, DeepSnitch AI is offering a perfect buy opportunity at just $0.03986. This crypto is expected to moon in the near future and potentially return huge profits from even a small investment.
