Standard Chartered Reveals Short-Term Prediction of $200,000 in Bitcoin! "In Just a Few Months..."

As the leading cryptocurrency Bitcoin (BTC) continues its volatile movements, a Standard Chartered analyst predicted that BTC could reach $130,000 by March.

According to The Block, Standard Chartered's crypto research chief Geoffrey Kendrick said that as institutional entries accelerate, the price of Bitcoin could reach $130,000 within two months.

Kendrick noted that after the FED's decision to keep interest rates unchanged yesterday, the market entered a period of relative stability.

Geoff Kendrick, who expects prices to rise with the increase in corporate entrances and the market's risk sensitivity, stated that the Fed's stance has reduced current uncertainty.

The analyst also said that the U.S. SEC's repeal of SAB 121, which allows traditional financial institutions to custody digital assets, is a significant catalyst for institutional BTC adoption.

"SEC has canceled SAB21. This policy change eliminates an important regulatory barrier by allowing more traditional financial institutions to custody digital assets."

At this point, institutional flows towards Bitcoin will continue to gain momentum and drive up the price.

As a result, I expect Bitcoin to test $109,000 in the coming days or weeks and to reach a range of $112,000 to $130,000 in February-March.

Kendrick expressed that the market was relieved from excessive leverage after the recent decline and created a stronger environment for more gains.