Are strong technicals enough to bring Bitcoin price to $100K in 2021? By

After scaling up to a relative high of around $53,000 just over two weeks ago, it seemed as though (BTC) was well on its way to reclaiming its former all-time highs. However, the series of events that unfolded over the past week has seen the world’s largest cryptocurrency by total market capitalization lose nearly 13% of its value, with a single BTC currently trading near $45,800.

That said, the aforementioned volatility seems to have left Standard Chartered’s cryptocurrency research unit completely unfazed, with the analysts referring to Bitcoin’s most recent plunge as being a “false dip” while reiterating that a year-end target of $100,000 per BTC is still quite achievable for the flagship cryptocurrency.