Standard Chartered Forecast Bitcoin at $200K in 2025
Geoffrey Kendrick, head of digital assets at Standard Chartered, apologized that his $120k Q2 target might be too low.
Quick overview
- Geoffrey Kendrick, an analyst at Standard Chartered, humorously revised his bitcoin price prediction, suggesting that his previous target of $120,000 might be too low.
- He anticipates that strategic asset reallocations and accumulation by major holders will drive bitcoin to an all-time high of around $120,000 by Q2 2025.
- Kendrick believes that the evolving narrative around bitcoin has shifted towards a strategy of reallocating investments away from US assets.
- He also mentioned that bitcoin's trading patterns are increasingly resembling those of riskier assets like stocks.
An analyst at Standard Chartered who forecasted that bitcoin would reach $120,000 by the second quarter now claims that his price prediction is “too low,” in a lighthearted email sent to clients on Thursday.
Geoffrey Kendrick, head of digital assets at Standard Chartered, apologized that his $120k Q2 target might be too low.
Kendrick wrote a note predicting that a “strategic asset reallocation away from US assets” and “accumulation by ‘whales’ (major holders)” will cause bitcoin to hit an all-time high of about $120,000 in the second quarter of 2025.
According to Kendrick, at the time, “we expect these supportive factors to push BTC to a fresh all-time high around USD 120,000 in Q2.”
Through the summer, we anticipate gains that will move the BTC-USD exchange rate closer to our year-end prediction of 200,000. “
Kendrick stated on Thursday that his $120,000 bitcoin price target now “looks very achievable” and might even be too low. According to the Standard Chartered analyst, “the dominant story for Bitcoin has changed again.”. The risk assets. was associated with it. After that, it evolved into a strategy for strategically reallocating outside the United States.
Additionally, flows come in a variety of shapes,” he continued. His remarks come as Bitcoin is getting closer to $100,000 once more. Analysts have noticed a trend in recent years that indicates bitcoin trading similarly to riskier assets like stocks.
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