Golden Finance reports that Standard Chartered's head of digital assets, Geoffrey Kendrick, shared a half-joking remark with clients via email on Thursday: I apologize for my second-quarter target of Bitcoin reaching $120,000 possibly being too low. Last month, Kendrick wrote in a report that he expects Bitcoin to hit around $120,000 in the second quarter of 2025, due to the strategic reallocation of assets away from U.S. assets and the accumulation by whales (major holders). We expect these supporting factors to drive Bitcoin to a new historical high of about $120,000 in the second quarter, with the uptrend continuing throughout the summer, bringing Bitcoin close to our year-end forecast of $200,000. On Thursday, Kendrick stated that his previous $120,000 Bitcoin price prediction now seems very achievable, and that this target might even be too low. The Standard Chartered analyst remarked: The main narrative around Bitcoin has changed again. It was once associated with risk assets... then it became a way to strategically reallocate assets away from U.S. assets. Now it’s all about the inflow of capital. Capital is flooding in in various forms. (Jinshi)
