Bitcoin's Record High Could Be Broken This Quarter, as Perpredicted by Standard Chartered – The Report Reveals the Banking Titan's Forecasted Peak Level
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ierre Kendrick, head of digital assets research at Standard Chartered, foresees an impressive surge in Bitcoin's price over the next couple of weeks. In a recent report, Kendrick predicts a 26% increase from the current level, taking the world's leading cryptocurrency to a staggering $120,000 before the Q2 2025 deadline. (Benzinga Crypto)
Citing increased institutional demand and investors' tendency to diversify their portfolios by moving capital away from US assets, Kendrick provides a compelling argument for this bullish projection. Currently, Bitcoin is traded at $94,980. (Screenshot of Standard Chartered research note dated April 28th)
Over the long term, Standard Chartered anticipates Bitcoin reaching an astonishing $200,000 by the year's end. Comparatively, Bitcoin's price hovers around $90,000 in early 2025, making Kendrick's forecasts potentially double its value in a year.
Kendrick compellingly argues that Bitcoin serves as a superior hedge to the financial system risks, such as bank collapses or government debt defaults. Gold, on the other hand, is perceived to be a better hedge against geopolitical risks. (Standard Chartered research note)
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