Standard Chartered Analyst Revises Bitcoin Price Prediction
- Geoffrey Kendrick, head of digital assets at Standard Chartered, revises his Bitcoin price prediction.
- Kendrick initially predicted Bitcoin would reach $120,000 by Q2 but now considers this too low.
- Bitcoin has seen $5.3 billion in inflows over the last three weeks from major institutions.
- The Abu Dhabi sovereign wealth fund and software firm Strategy are notable contributors to these inflows.
- Bitcoin is currently trading at $99,450, marking a 2.6% increase in the last day.
Kendrick’s revised outlook suggests that Bitcoin may exceed his earlier forecast of $120,000 due to significant institutional inflows totaling $5.3 billion recently. However, he has not specified a new target price.
Source (2.6)https://dailyhodl.com/2025/05/08/standard-chartered-analyst-backs-off-bitcoin-price-prediction-now-calls-120000-btc-too-low-report/?rand=59076
