Bitcoin

Standard

Read

Geoff Kendrick, head of digital assets research at Standard Chartered, is still optimistic about Bitcoin, with his firm setting a year-end price target of $150,000. 
According to <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-prediction-btc-halving-outlook-miners-etf-standard-chartered-2024-4" target="_blank" rel="">Business Insider</a>, “Bitcoin’s price could still more than double this year,” said Kendrick. 
Speaking on BNN Bloomberg, Kendrick pointed out that Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="">BTC</a>) has recently faced a downturn, sliding 11% from its peak at about $73,000 in March. 
He noted that “this pullback stems primarily from slowing inflows into <a href="https://crypto.news/tag/bitcoin-etf/" rel="">Bitcoin ETFs</a> and rising tensions in the Middle East,” which have temporarily <a href="https://crypto.news/bitcoin-plunges-over-8-percent-heels-iran-drone-attack/" data-type="link" data-id="https://crypto.news/bitcoin-plunges-over-8-percent-heels-iran-drone-attack/" rel="">overshadowed</a> the market. 
Despite these challenges, Kendrick remains confident about the market’s capacity to recover by reiterating Standard Chartered’s <a href="https://crypto.news/bitcoin-standard-chartered-prediction/" data-type="link" data-id="https://crypto.news/bitcoin-standard-chartered-prediction/" rel="">statement</a> from last month with a price prediction of $150,000 by year’s end. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="I'm still looking for US$150k for Bitcoin by the end of this year: head of digital assets research" width="1020" height="574" src="https://www.youtube.com/embed/Kf4LapnBQaQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
 </div>
</figure> 
 You might also like: <a href="https://crypto.news/ark-invest-makes-bullish-moves-ahead-bitcoin-halving/" rel=""> ARK Invest makes bullish moves pre-BTC halving, adds $40m worth of in-house spot Bitcoin ETFs </a> 
“From where we are now, it’s starting to look like we can push higher again,” Kendrick said, citing the cyclical nature of Bitcoin’s past performance, especially after <a href="https://crypto.news/bitcoin-halving-hong-kong-etfs-ton-grows-weekly-recap/" data-type="link" data-id="https://crypto.news/bitcoin-halving-hong-kong-etfs-ton-grows-weekly-recap/" rel="">halving</a> events. Previous halving events have historically triggered price surges by reducing the new Bitcoin supply. 
Moreover, Kendrick forecasts significant growth in ETF investments. Since the <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" data-type="link" data-id="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" rel="">approval</a> of spot Bitcoin ETFs in January, nearly $12 billion has flowed into the market. 
With increasing maturity in the U.S. ETF sector, Kendrick projects that inflows could soar to between $50 billion and $100 billion over the next two years. 
<a href="https://crypto.news/tag/standard-chartered/" data-type="link" data-id="https://crypto.news/tag/standard-chartered/" rel="">Standard Chartered</a> remains one of the most bullish on Bitcoin’s prospects, even predicting a potential rise to $250,000 by 2025, marking a 266% increase from its March levels. The company’s optimism reflects a broader belief in Bitcoin’s long-term ascendancy in the financial markets. 
 Read more: <a href="https://crypto.news/5-important-facts-about-the-bitcoin-halving/" rel=""> 5 important facts about the Bitcoin halving </a>

Standard Chartered doubles down on $150k Bitcoin prediction

crypto.news

2024년 4월 22일에 게재된 다른 기사

Justin Sun’s Ethereum Acquisition Fuels Market Speculation

Shiba Inu Raises $12M Through Treat Token Sale

Shiba Inu Shibarium Faces Technical Glitch: Network Outage Hinders User Experience

XRP sees $1.3 mln inflow amid Bitcoin’s exodus, What’s next?

Will Norway’s new regulations drive Bitcoin miners away?

Top Cryptocurrency Picks for Stellar Returns in a Volatile Market

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!