Geoffrey Kendrick, Head of Digital Assets at Standard Chartered, has reevaluated his bullish bitcoin forecast, acknowledging that his earlier target of $120,000 by Q2 2025 may be too conservative. With bitcoin prices hovering near $100,000, accompanied by significant inflows to Bitcoin ETFs and a surge in institutional interest, Kendrick believes that bitcoin's role as a macro asset is evolving. The changing dynamics indicate that Bitcoin might exceed his initial projections and could reach a fresh all-time high of $200,000 by year-end, largely driven by substantial investment flows from institutional players.
"I apologise that my USD120k Q2 target may be too low," Kendrick said Thursday, walking back his earlier prediction that bitcoin would peak around $120,000 in Q2 2025.
"The dominant story for Bitcoin has changed again... It is now all about flows. And flows are coming in many forms.
"We expect these supportive factors to push BTC to a fresh all-time high around $200,000 by year-end."
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