Bitcoin Projected to Reach $120,000 This Quarter According to Standard Chartered
Strategic shifts by investors away from U.S. assets could drive bitcoin to a new all-time high in Q2, according to Geoff Kendrick of Standard Chartered.
- Kendrick projects bitcoin could reach $120,000 this quarter and maintains a target of $200,000 by the end of 2025.
- Bitcoin was priced at approximately $95,300 at the time of the report.
- The U.S. Treasury term premium, correlated with bitcoin prices, is at a 12-year high.
- Strong accumulation by whales and analysis indicates American investors are seeking non-U.S. assets.
- Recent ETF flows suggest a reallocation from gold to bitcoin as a "safe-haven" asset.
- Kendrick stated bitcoin may serve as a better hedge than gold against financial risks.