Standard Chartered “Bitcoin, Expected To Surpass 120,000 Dollars During The Second Quarter… Now Is The Right Time To Buy”

Regional purchase distribution showing the trend of Bitcoin rise in a three-dimensional way (Source: Bloomberg)

Standard Chartered’s Jeffrey Kendrick, head of digital asset research, predicted that Bitcoin will surpass $120,000 and reach an all-time high in the second quarter of this year. He emphasized that Bitcoin's structural rise is ongoing, saying, "Now is the buying timing."

Kendrick presented the possibility of further Bitcoin rise based on factors such as the highest level of U.S. Treasury term premium in 12 years, continued Bitcoin purchases by whale investors, and the flow of ETF funds from gold to Bitcoin. He analyzed that this flow is a sign that Bitcoin is replacing traditional safe assets and that demand for decentralized assets is increasing.

In particular, after President Donald Trump announced a 90-day tariff exemption for countries other than China earlier this month, it was found that American investors’ funds were heading towards Bitcoin. Bitcoin, which previously showed movements similar to tech stocks, is showing independent strength after the announcement. Asian investors are also joining this trend, expanding the buying trend.

Within the market, large holders classified as whales are actively buying during Bitcoin price adjustment periods, supporting the uptrend. In the past, whale purchases were prominent during major events such as the SVB collapse, Bitcoin ETF approval, and Trump's election, and this time is said to be a similar trend.

Kendrick judged that it is highly likely that Bitcoin will surpass the highest price recorded on January 20 at $108,786 and rise to $120,000. In the medium to long term, it is also open to the possibility of reaching $200,000 by the end of the year.

He also predicted that additional market upward momentum could be secured if the inflow of funds from long-term investment entities such as pension funds and sovereign wealth funds is confirmed through the 13F report of the U.S. ETF to be announced in May. He added that the possibility of passing the U.S. stablecoin regulation bill would also act as a positive factor.

Kendrick said, “It is difficult to predict the turning point of Bitcoin prices, but the current period, when the upward trend is forming, is the most attractive entry point,” and reiterated to investors that ‘now is the opportunity.’