$BTC Standard Chartered urges to buy bitcoin right now, as the company expects its growth to $120,000 in the second quarter

"It is expected to reach a new all-time high of around $120,000 in the second quarter, driven by strategic asset reallocation in the U.S. Buy now," The Block quotes Jeffrey Kendrick, head of digital asset research at Standard Chartered.

According to him, "a number of indicators confirm our view that bitcoin is moving towards the next growth cycle."

"Current analysis shows that U.S. investors may be looking for assets outside the U.S. Meanwhile, 'whales' (large holders) are actively accumulating bitcoins. The inflow of funds into ETFs last week indicates a reallocation of funds from safe-haven gold to BTC," the report from Standard Chartered states.