Geopolitical concerns are likely to weigh on Bitcoin prices and push it below $60,000. However, investors should view this as a buying opportunity.
Standard Chartered has stated that while bitcoin struggles as a safe haven from geopolitical risks, it remains a valid hedge against traditional financial issues.
Geoff Kendrick at Standard Chartered emphasized that gold serves as a geopolitical hedge, while bitcoin is more effective in addressing issues like bank collapses.
Despite downturns in the market, institutional investors are maintaining their buying pace, purchasing digital currencies at levels equivalent or greater than daily mining.
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