Standard Chartered "BTC, Reaches $120,000 In The 2nd Quarter…Now Is A Buying Opportunity"

Standard Chartered's analyst Jeff Kendrick predicts that Bitcoin will reach 120,000 dollars within the second quarter. According to The Block, he stated that "now is the time to buy Bitcoin" and maintains the target of 200,000 dollars by the end of 2025. He particularly pointed out the possibility that American investors might be looking for alternative assets instead of U.S. assets, given that the U.S. treasury term premium has reached its highest level in 12 years.

Kendrick analyzed that the recent capital inflow into BTC ETF shows a safe asset reallocation from Gold to Bitcoin. Citing the increased interest of institutional investors in Bitcoin, the ETF 13F report scheduled for mid-May (possibility of disclosure of purchasing records of pension funds, sovereign wealth funds, etc.), and the potential passage of a U.S. stablecoin bill as grounds, he predicted that the Bitcoin rally could continue until summer.

He also forecasted that AVAX could rise more than tenfold to reach 250 dollars by 2029, and XRP is expected to rise more than 500% to reach 12.50 dollars by 2028. On the other hand, he adjusted his price target for Ethereum (ETH) to 4,000 dollars by 2025, lower than previously.