{"id":3284,"date":"2025-05-08T16:16:28","date_gmt":"2025-05-08T16:16:28","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/05\/08\/standard-chartered-analyst-apologizes-for-120k-bitcoin-price-prediction-says-it-is-too-low\/"},"modified":"2025-05-08T16:16:28","modified_gmt":"2025-05-08T16:16:28","slug":"standard-chartered-analyst-apologizes-for-120k-bitcoin-price-prediction-says-it-is-too-low","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/05\/08\/standard-chartered-analyst-apologizes-for-120k-bitcoin-price-prediction-says-it-is-too-low\/","title":{"rendered":"Standard Chartered Analyst Apologizes For $120K Bitcoin Price Prediction, Says It Is Too Low\u00a0"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Standard Chartered Analyst Apologizes For $120K Bitcoin Price Prediction, Says It Is Too Low\u00a0<\/a><\/p>\n

<\/div>\n

Standard Chartered\u2019s Head of Digital Assets, Geoffrey Kendrick, is rethinking his bullish bitcoin<\/a> forecast, and not because he was too optimistic.<\/p>\n

\u201cI apologise that my USD120k Q2 target may be too low,\u201d Kendrick said<\/a> Thursday in an email to clients, walking back his earlier prediction that bitcoin would peak around $120,000 in Q2 2025.<\/p>\n

Just last month, Kendrick projected a new all-time high for bitcoin by mid-year, driven by \u201ca strategic asset reallocation away from US assets\u201d and accumulation by \u201cwhales\u201d referring to major holders with large positions.\u00a0<\/p>\n

But with bitcoin now hovering near $100,000<\/a> and surging more than 3% on the day to $99,293.54, Kendrick admits the rally has moved faster than expected.<\/p>\n

\u201cThe dominant story for Bitcoin has changed again,\u201d Kendrick said. \u201cIt was correlation to risk assets \u2026 It then became a way to position for strategic asset reallocation out of US assets. It is now all about flows. And flows are coming in many forms.\u201d<\/p>\n

Among those flows: $5.3 billion in inflows to U.S. spot bitcoin ETFs over the last three weeks, according to Kendrick. That kind of activity signals surging institutional interest \u2014 a trend that further strengthens bitcoin\u2019s new role as a macro asset in global portfolios.<\/p>\n

Kendrick highlighted several heavyweight examples to support his revised stance: Strategy<\/a> ramping up bitcoin buys, the Abu Dhabi sovereign wealth fund holding BlackRock\u2019s spot Bitcoin IBIT, and the Swiss National Bank reportedly holding shares of MSTR, often seen as a leveraged proxy for bitcoin itself.<\/p>\n

Previously, bitcoin was often lumped in with high-risk U.S. tech stocks, mirroring their volatility. But with the current wave of institutional adoption, Kendrick believes bitcoin has taken on a new narrative\u2014one that might carry it well beyond the $120,000 mark this summer, and toward his year-end forecast of $200,000.<\/p>\n

\u201cWe expect these supportive factors to push BTC to a fresh all-time high around USD 120,000 in Q2,\u201d Kendrick had said earlier. Now, with BTC nearing six figures, that milestone might just be a stepping stone.\u00a0<\/p>\n

This post Standard Chartered Analyst Apologizes For $120K Bitcoin Price Prediction, Says It Is Too Low\u00a0<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Jenna Montgomery<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Standard Chartered Analyst Apologizes For $120K Bitcoin Price Prediction, Says It Is Too Low\u00a0 Standard Chartered\u2019s Head of Digital Assets, Geoffrey Kendrick, is rethinking his bullish bitcoin forecast, and not because he was too optimistic. \u201cI apologise that my USD120k Q2 target may be too low,\u201d Kendrick said Thursday in an email to […]<\/p>\n","protected":false},"author":0,"featured_media":3285,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3284","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3284"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3285"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}