COINOTAG's latest insights released on April 28 reveal Standard Chartered's important forecast for Bitcoin trends. Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that the price of Bitcoin could reach a milestone of approximately $120,000 in the upcoming second quarter. This expected rise is primarily attributed to a strategic shift in investment allocations, with funds moving away from U.S.-centric assets.
Kendrick's latest report released on Monday highlights key economic indicators supporting this bullish sentiment. Notably, the U.S. Treasury yield curve shows a premium not seen in over a decade, closely related to Bitcoin's performance. Additionally, U.S. investors are diversifying their investments into non-U.S. assets, while reports indicate that Bitcoin 'whales' are increasing their holdings of Bitcoin. Furthermore, recent inflows into ETFs suggest that investors are shifting from traditional safe-haven assets like gold to Bitcoin, further confirming this growth forecast.
