World-Famous Bank Said Bitcoin Will Reach This Price in 2 Months: "Now Is the Time to Buy" - Coin Bulletin

Geoffrey Kendrick, the leading research analyst for digital assets at Standard Chartered, believes that Bitcoin will reach a new record of 120,000 dollars in the second quarter, (BTC).

While the markets are talking about Bitcoin preparing for a new rally, Geoffrey Kendrick, head of the digital asset research division at Standard Chartered, drew attention by saying "now is the time to buy" to investors. Kendrick claims that a strategic flight from US assets has begun, which will push the price of Bitcoin to new highs. According to him, many indicators that will drive the price of Bitcoin upwards have gained strength simultaneously.

According to Kendrick, the risk premium on US Treasury bonds has reached its highest level in the last 12 years, while analyses of trading hours by investors clearly show that US-based investors are turning to foreign assets. Additionally, investors defined as large whales, those holding more than a thousand Bitcoins, continue to increase their BTC accumulations during price fluctuations. This situation, combined with the strong transitions made by ETF investors from gold to Bitcoin, indicates that an upward movement in BTC is inevitable.

Especially the 90-day tax deferral announced by US President Donald Trump on April 9 for countries outside of China significantly increased Bitcoin purchases. Kendrick states that from this date, the relationship of Bitcoin with Nasdaq and technology stocks has broken, and US investors have turned to Bitcoin as a safe haven. With Asian-based investors also joining this trend, Bitcoin's journey to new peaks has been strengthened.

While Bitcoin's current price is around 95,500 dollars, Kendrick maintains a 200,000 dollars target for the end of the year. The expert believes that the rise in Bitcoin will accelerate, especially during the summer months, and that the 13F reports of U.S. based ETFs will reveal significant purchases by major pension and state funds in May. This situation is also expected to support the Bitcoin price.

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Kendrick states that the fundamental role of Bitcoin in investment portfolios is a protection against the current financial system, emphasizing that thanks to its decentralized structure, Bitcoin is a more effective tool in this regard than gold. The recent shift from gold ETFs to Bitcoin ETFs also indicates that Bitcoin is now perceived as a more reliable protective asset.

Kendrick, an analyst at Standard Chartered, had previously made bold predictions regarding the cryptocurrency market. In recent weeks, Kendrick set targets of $250 for Avalanche's token AVAX in 2029 and $12.50 for XRP in 2028. However, he reduced his price prediction for Ethereum )ETH### to $4,000 for 2025. Additionally, he stated that he expects the stablecoin market to reach $2 trillion by 2028 due to the impact of U.S. regulations.