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A Standard covered Analyst who predicted bitcoin In the second quarter, which got $ 120,000, he says his price call is “too low”.
“I apologize that my Q2 USD120K goal may be too low,” said Jeffrey Kendrick, the head of the digital assets in Standard Chartered, in a comment to the cheek that shared with e-mail customers on Thursday.
Last month, Kendrick wrote a note stating that in the second quarter of 2025, he expected Bitcoin to reach a maximum of about $ 120,000 at the back of “strategic redistribution of assets from US assets” and “accumulation of” whales “.
“We expect these supporting factors to push BTC to fresh about $ 120,000 in the quarter over the whole time,” Kandrick said at the time. “We see that the profit continues during the summer, taking BTC-USD to our forecast at the end of 200,000.”
On Thursday, Kendrick said his $ 120,000 “looks very achievable” and that it could be too low.
“The dominant story for Bitcoin has changed again,” said a standard diplomatic analyst. “It was a risk correlation … It was a way of placing for strategic re -distribution assets from the US assets.”
“Now everything is about flows. And the streams go in many forms,” he added.
His comments come again as Bitcoin Approaches $ 100,000. According to the coins, the price of cryptocurrency was noted by more than 3% at $ 99 293.54. Previously, it rose to $ 99,897.00.
In recent years, analysts have undertaken a sample that shows bitcoin trading in a similar way to risk assets such as US technology stocks – the justification is that increasing the inflow of more institutional capital in bitcoin makes it more prone to the same capital market market.
Kendrick-which has long held a bullish position on cryptocurrency, “said that in the last three weeks, there were $ 5.3 billion in the American bitcoin exchange stock, which suggests that more institutional money is collected.
He pointed to several examples of large investors that distribute some of his portfolios, on Bitcoin, including software firm Microstrategy By increasing bitcoin purchases, a sovereign Abu -DHBA riches fund, which occupies Ibit Bitcoin ETF BlackRock, and the Swiss National Bank that buys Microstrategy shares.
Microstrategy is widely considered proxy for Bitcoin.
