According to Kendrick, Bitcoin's primary function is to safeguard against financial system risks. He forecasts a significant surge in Bitcoin's value, potentially reaching $200,000 by the end of 2025 and $500,000 by 2028.
With Bitcoin currently trading around $90,000, Kendrick's prediction suggests a 100% increase in value by the end of this year. His bullish outlook stems from Bitcoin's unique position as a hedge against financial system risks, particularly during times of uncertainty.
Kendrick notes that Bitcoin's decentralized nature makes it an attractive option during periods of financial instability. The cryptocurrency's performance during the Silicon Valley Bank failure in March 2023 is a prime example.
Moreover, Bitcoin's decentralized structure can mitigate risks associated with government policies, such as concerns surrounding the US Treasury's actions or the Federal Reserve's decision-making.
Kendrick is closely monitoring the US Treasury term premium, which recently reached a 12-year high. He observes that Bitcoin has been correlated with this premium since early 2024 but has lagged behind its increase due to earlier concerns about tariffs impacting technology stocks.
Despite this, Kendrick remains confident that Bitcoin will continue to appreciate as concerns about the Federal Reserve's independence persist. Potential shifts at the Fed, including the possible ouster of Jerome Powell, could propel further growth for Bitcoin.
Kendrick's prediction is optimistic, suggesting that Bitcoin may shatter new all-time highs in the near term as economic uncertainties unfold. This is not the first time Kendrick has made bullish crypto predictions, having previously forecasted significant gains for XRP and AVAX.
Overall, Bitcoin is increasingly being regarded as a hedge asset during periods of financial uncertainty, with Kendrick predicting tremendous growth to come.
#CryptoMarketCapBackTo$3T #SaylorBTCPurchase
Follow me for more information...