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World Famous Bank Says Don't Sell Bitcoin: It Could Reach This Price in Two Days! - Coin Bulletin
Bitcoin (BTC) has recently shown a stronger performance than technology stocks, and according to Standard Chartered, it could reach the level of $88,500 this weekend.
Standard Chartered drew attention by introducing the "Mag7B" index, which replaced Bitcoin with Tesla last week. The bank stated that Bitcoin performed better than most technology stocks during the recent market downturn, emphasizing that Bitcoin is a "strong player." It was highlighted that this resilient nature of Bitcoin positions it as a hedge against the turbulence of traditional financial markets, referred to as a "US isolation."
Geoffrey Kendrick, global head of digital assets research at Standard Chartered, expects Bitcoin to rise to $88,500 by the end of this week. He noted that Bitcoin could gain value during a time when the U.S. is becoming increasingly isolated from the global economy. This observation came in the wake of U.S. President Donald Trump's moves to increase tariffs. Kendrick mentioned that Bitcoin behaves both like technology stocks in this way and can also be used as a hedge against traditional financial markets in certain situations.
The power of Bitcoin and US isolation
In the last 36 hours, Bitcoin and Ether (ETH) showed a performance that was more resilient against big tech stocks. Microsoft (MSFT) and Bitcoin (BTC) performed better than the others. Kendrick stated that Bitcoin is an asset that can gain when tech stocks rise and can also serve as a hedge in different scenarios. He expressed that if Bitcoin exceeds the $85,000 level, the $88,500 level could open up, and this could happen by the weekend.