Bitcoin may currently be lingering below the psychologically important $100,000 mark, but it’s still going to reach a new all-time high of $120,000 in this quarter, a strategist at British multinational bank Standard Chartered has predicted. The analyst also believes Bitcoin will smash the $200,000 milestone by the end of 2025 — more than double its current value. $120,000 for BTC in Q2? Why Standard Chartered Believes It’s Possible In a Monday report, Standard Chartered’s Global Head of Digital Assets Research Geoffrey Kendrick stated that he sees the world’s oldest and largest cryptocurrency reaching $120,000 in the second quarter, as he doubled down on his previous target of $200,000 by the end of 2025. Kendrick cited the rising U.S. Treasury term premium, which has historically correlated with Bitcoin price jumps, strong accumulation of Bitcoin by whales, and the past week’s ETF flows indicating “safe-haven reallocation from gold to BTC” as signs for an imminent parabolic price rally, reiterating his bullish forecasts of recent months. “Bitcoin may be a better hedge than gold against financial system risks,” he added. According to the bank’s crypto bull, U.S. investors have been purchasing Bitcoin since President Donald Trump’s April 9 annoucement to pause the crippling tariffs for 90 days, except for China. Prior to the announcement, Bitcoin slumped alongside stocks, but has outperformed since then. “The correlation breakdown and U.S. buying suggest that U.S. investors are seeking non-U.S. assets,” Kendrick wrote. Although it’s not easy to accurately time Bitcoin breakouts, Kendrick noted that “now” is the time to buy as upside momentum builds. Kendrick expects Bitcoin’s sharp rally to continue through the summer, “taking BTC-USD towards our year-end forecast of 200,000.” This move will be further buoyed by increasing institutional interest, forthcoming 13F filings for U.S. ETFs in mid-May, which could reveal long-term buying by pension funds and sovereign wealth funds. Additionally, the potential passage of U.S. stablecoin legislation could further legitimize the asset class and support structural price gains. Bitcoin is currently trading at around $94,811, with its all-time high of $108,786 set on Jan. 20, 2025, according to crypto data provider CoinGecko . At Bitcoin’s current price, that would mean it needs to grow by circa 110% in what remains of the year. But stranger things have happened in the cryptoverse.
