Crypto Alert! The 'King' Bitcoin Prepares to Conquer New Heights, Will It Reach 120k?
The cryptocurrency landscape is buzzing with anticipation, and an authoritative voice joins the optimistic chorus. Geoff Kendrick, the renowned Head of Digital Asset Research at Standard Chartered, has made a bold prediction: Bitcoin could be on the verge of reaching a new all-time high in the near future.
In a revealing interview with BeInCrypto, Kendrick broke down the crucial factors that he believes are paving the way for this potential meteoric rise. He pointed out three primary catalysts: the vigorous inflows of capital into Bitcoin Exchange-Traded Funds (ETFs), the unwavering investment strategy of Strategy (formerly MicroStrategy), and the growing participation of institutional capital.
Kendrick emphatically emphasized the leading role of cash flows in the current bullish market dynamics. This appreciation is supported by compelling data. According to the renowned analytics firm Glassnode, inflows into Bitcoin ETFs have experienced a robust comeback in the last two weeks. In parallel, Bitcoin has made a notable rebound, recovering from $84,000 to touch $100,000.
Thanks to the recent price revaluation, the total holdings of Strategy have reached an unprecedented value, surpassing the impressive figure of $53.8 billion.
