A Standard Chartered analyst who predicted bitcoin hitting $120,000 by the second quarter now says his price call is “too low.”
“I apologise that my USD120k Q2 target may be too low,” Geoffrey Kendrick, head of digital assets at Standard Chartered, said in a tongue-in-cheek comment shared with clients via email Thursday.
Last month, Kendrick wrote a note saying that he expects bitcoin to reach an all-time high of around $120,000 in the second quarter of 2025 on the back of a “strategic asset reallocation away from US assets” and “accumulation by ‘whales’ (major holders).”
“We expect these supportive factors to push BTC to a fresh all-time high around USD 120,000 in Q2,” Kendrick said at the time. “We see gains continuing through the summer, taking BTC-USD towards our year-end forecast of 200,000.”
