Bitcoin may still be on track to $200,000 before the end of the year despite the recent market crash, but a lack of ETF buying continues to limit upside potential.
Cryptocurrency valuations staged a modest recovery this week as investor appetite for digital assets returned after the recent market crash.
In a silver lining to the correction, the $19 billion liquidation event may be seen as a buying opportunity by investors, a dynamic that could fuel Bitcoin’s (BTC) rise above $200,000 before the end of the year, according to Standard Chartered’s global head of digital assets research, Geoff Kendrick.
However, a lack of inflows from the US spot Bitcoin exchange-traded funds (ETFs) continues to limit Bitcoin’s upside momentum.
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