Bitcoin Could Exceed Predictions of 120 thousand USD from SC Bank

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Cryptocurrency Market Survey

According to information from CNBC, Geoffrey Kendrick, the head of digital asset research at Standard Chartered Bank, has adjusted his Bitcoin price prediction. Kendrick acknowledged that the previous second-quarter price target of $120,000 "may be too low." Previously, he accurately predicted Bitcoin's growth in 2024.

Organizational Cash Flow Into the Market

Kendrick emphasized that institutional funds are flowing steadily into the Bitcoin market. Over the past three weeks, inflows into U.S. Bitcoin ETFs have reached $5.3 billion. Key signals mentioned include: MicroStrategy continues to increase its Bitcoin holdings, the Abu Dhabi sovereign wealth fund owns BlackRock's Bitcoin ETF, and the Swiss National Bank invests in MicroStrategy shares.

Prediction By The End Of The Year

Kendrick maintains his Bitcoin price target at $200,000 by the end of this year, believing that the upward trend could continue into the summer. The shift in structure from "risk asset-related" to "dominance of capital flows" has created a larger bullish opportunity for Bitcoin.

Important Note

This content is for market informational purposes only and does not constitute investment advice.

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