Bitcoin is moving towards a new historical maximum, according to Jeffrey Kendrick's forecast from Standard Chartered
Kendrick, the global head of digital asset research at Standard Chartered, stated that his "specific target" of $120,000 per bitcoin in the second quarter "looks quite achievable."
In a note published on Thursday, Kendrick noted that the dominant narrative around bitcoin has shifted again — this time focusing on capital flows.
Spot ETFs listed in the US have attracted $5.3 billion over the past three weeks, while hedge funds' short positions have only increased by $1.2 billion. "Thus, the net real flow is over $4 billion," Kendrick noted.
"I apologize for my target of $120,000 in the second quarter potentially being too low," Kendrick wrote.
Source - Investing