Standard Chartered Analyst: Previously Set BTC Q2 Target of $120,000 Was Too Conservative, Funds Are Pouring in Various Forms
According to a report by Jinse Finance, Geoffrey Kendrick, Head of Digital Assets at Standard Chartered Bank, shared a half-joking comment with clients via email on Thursday: I apologize if my Q2 target of $120,000 for Bitcoin is too low. Last month, Kendrick wrote in a report that he expects Bitcoin to reach an all-time high of around $120,000 in the second quarter of 2025, due to "strategic asset reallocation from U.S. assets" and accumulation by whales (major holders). We expect these supporting factors to drive Bitcoin to a new all-time high of around $120,000 in the second quarter, with the rally continuing throughout the summer, bringing Bitcoin close to our year-end forecast of $200,000. On Thursday, Kendrick stated that his previous $120,000 Bitcoin price prediction now seems very achievable, and perhaps even too low. The Standard Chartered analyst said: The main narrative for Bitcoin has changed again. It was once associated with risk assets... then it became a way of strategic asset reallocation from U.S. assets. Now it's entirely about capital flows. Funds are pouring in in various forms.
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