$BTC

Standard Chartered's analyst apologizes for his previous forecast of Bitcoin reaching $120,000 by the second quarter.

Jeffrey Kendrick, the head of digital assets at Standard Chartered, said in a sarcastic comment sent to clients via email on Thursday: "I apologize for my forecast of a $120,000 price for the second quarter; it may be too low."

Last month, Kendrick wrote a note saying he expects Bitcoin to reach an all-time high of around $120,000 in the second quarter of 2025, backed by "a strategic reallocation of assets away from U.S. assets" and "accumulation by large investors," according to CNBC, which was reviewed by Al Arabiya Business.