The Daily Hodl 2025-05-08 18:41:02

Standard Chartered Analyst Backs Off Bitcoin Price Prediction, Now Calls $120,000 BTC ‘Too Low’: Report

An analyst from the banking giant Standard Chartered is reportedly changing his price prediction for Bitcoin ( BTC ), predicting that the crypto king shoots up even higher than previously anticipated. According to a new report by CNBC, Geoffrey Kendrick, head of digital assets at the firm, is apologizing for predicting that BTC will hit the $120,000 price tag by Q2 of this year, noting that his forecast may still be too low. As stated by Kendrick last month when he made the prediction, according to CNBC, “We expect these supportive factors to push BTC to a fresh all-time high around $120,000 in Q2. We see gains continuing through the summer, taking BTC-USD towards our year-end forecast of $200,000.” However, Kendrick now says the flagship digital asset should rise even higher because money is flowing into it from many avenues, noting that BTC has seen $5.3 billion worth of inflows during the last three weeks from prominent institutions, such as the Abu Dhbai sovereign wealth fund as well as the software firm Strategy, formerly known as MicroStrategy. “The dominant story for Bitcoin has changed again. It was [correlated] to risk assets… It then became a way to position for strategic asset reallocation out of US assets It is now all about flows. And flows are coming in many forms.” Though Kendrick said his previous prediction was too low, he did not specifically make a new one. Bitcoin is trading for $99,450 at time of writing, a 2.6% gain during the last day. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Standard Chartered Analyst Backs Off Bitcoin Price Prediction, Now Calls $120,000 BTC ‘Too Low’: Report appeared first on The Daily Hodl .

Наиболее читаемые новости

Celsius Founder Alex Mashinsky Sentenced to 1...
2025-05-09
SEC’s Crenshaw slams Ripple settlement, warns...
2025-05-09
Amazon Unveils Powerful AI Tool to Boost Sell...
2025-05-09
BTC nears $100K, Trade deal Optimism, Stripe...
2025-05-09
Ethereum Whale Deposits 4,200 ETH Worth $9.24...
2025-05-09
U.S. Senate split on GENIUS Act – Stablecoin...
2025-05-09
Bitcoin Bulls In Control? Binance Taker Buy-S...
2025-05-09
Within 48 Hours, 2 US States Enact Strategic...
2025-05-09

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения