Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Standard Chartered Analyst Apologies For $120K Bitcoin Price Prediction, Says It Is Too Low
By: bitcoin magazine|2025/05/08 23:45:02
0
Share
Bitcoin MagazineStandard Chartered Analyst Apologies For $120K Bitcoin Price Prediction, Says It Is Too Low Standard Chartered’s Head of Digital Assets, Geoffrey Kendrick, is rethinking his bullish bitcoin forecast, and not because he was too optimistic.“I apologise that my USD120k Q2 target may be too low,” Kendrick said Thursday in an email to clients, walking back his earlier prediction that bitcoin would peak around $120,000 in Q2 2025.Just last month, Kendrick projected a new all-time high for bitcoin by mid-year, driven by “a strategic asset reallocation away from US assets” and accumulation by “whales” referring to major holders with large positions. But with bitcoin now hovering near $100,000 and surging more than 3% on the day to $99,293.54, Kendrick admits the rally has moved faster than expected.“The dominant story for Bitcoin has changed again,” Kendrick said. “It was correlation to risk assets ... It then became a way to position for strategic asset reallocation out of US assets. It is now all about flows. And flows are coming in many forms.”Among those flows: $5.3 billion in inflows to U.S. spot bitcoin ETFs over the last three weeks, according to Kendrick. That kind of activity signals surging institutional interest — a trend that further strengthens bitcoin’s new role as a macro asset in global portfolios.Kendrick highlighted several heavyweight examples to support his revised stance: Strategy ramping up bitcoin buys, the Abu Dhabi sovereign wealth fund holding BlackRock’s spot Bitcoin IBIT, and the Swiss National Bank reportedly holding shares of MSTR, often seen as a leveraged proxy for bitcoin itself.Previously, bitcoin was often lumped in with high-risk U.S. tech stocks, mirroring their volatility. But with the current wave of institutional adoption, Kendrick believes bitcoin has taken on a new narrative—one that might carry it well beyond the $120,000 mark this summer, and toward his year-end forecast of $200,000.“We expect these supportive factors to push BTC to a fresh all-time high around USD 120,000 in Q2,” Kendrick had said earlier. Now, with BTC nearing six figures, that milestone might just be a stepping stone. This post Standard Chartered Analyst Apologies For $120K Bitcoin Price Prediction, Says It Is Too Low first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
You may also like
Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns
From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...
Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy
AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.
Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis
With the popularity of local payment channels, the costs of traditional transfers have been significantly reduced, and the fees are now mainly concentrated in the domestic settlement phase, which is precisely what stablecoins cannot bypass.
Zuckerberg is building an AI agent to help him as CEO
Zuckerberg is reported to be personally developing a "CEO proxy" to accelerate information acquisition and reduce management layers.
Bloomberg: Swiss Private Bank Old Guard Rifts, Is Bitcoin the Spark?
For Marc Syz, this is both a bet on the digital asset track and a complete break from Switzerland's long-established private banking dynasty.
Zuckerberg is building an AI assistant to help him be CEO
Mark Zuckerberg has been reportedly personally developing a "CEO Proxy" to speed up information flow and reduce management layers.
Join WEEX AI Wars II: How WEEX API, Trader Skills Empower AI Trading Innovations
Join WEEX AI Wars II and be part of a global AI trading revolution. Compete with top AI agents and bots, showcase your strategies, and leverage WEEX API and Trader Skill to innovate, automate, and gain exposure in the AI trading ecosystem. Onboard your AI agent to WEEX AI Wars II NOW.
What kind of scenario will Backpack's TGE today play out in the bear market opening?
Currently, the Polymarket market gives an 87% probability to the event of its fully diluted valuation surpassing $200 million on the day after its launch.
Polymarket Ten Million Dollar Winner Retrospective: 40 Addresses, 100,000 Transactions, Only Three Ways to Make Money
The difference between the three is not in the parameters, but in playing entirely different games.
The Most Brutal Single-Month Plunge in 43 Years, Gold's Every Top Looks Like This
In the first three peaks, the central bank was not a net buyer of gold
Jiang Xueqin's Latest Interview Transcript: How to View the Current Global Changes
Iran's Next Move, Trump's War Plan, and Israel's Plot to Sabotage It
Maximize Your USDT Yield: The Weex Auto Earn Strategy for Passive Crypto Income
Learn how to earn interest on USDT with WEEX Auto Earn. Discover how stablecoins can generate passive income and why some platforms now offer up to 300% APR.
1 million investment yields over 1 billion return, Airwallex co-founder Liu Yueting reviews key life investments
At 25, all in with millions of dollars, at 34 worth 3 billion, Lucy Liu, co-founder of Airwallex, shares her ten-year wealth creation logic: betting on the right track, building a deep moat with licenses, and fully embracing AI intelligent finance by 2026.
Polymarket Millionaire Review: 40 addresses, 100,000 transactions, only three ways to make money
The differences between the three categories are not due to different parameters, but rather because they are playing completely different games.
Four Key Truths and Cost Traps Behind Polymarket LP Market Making Incentives
The potion left in the witch's hand is still poison; let's wait for Polymarket's major announcement tomorrow.
San Francisco Stablecoin Weekly Insights: The XYZ Coordinate System of 2026
Stablecoins 2026 New Narrative: No longer just "issuing coins," but reconstructing global financial infrastructure along three dimensions: AI payment authorization, RWA on-chain credit, and cross-border on-chain FX.
Asia's Next Great Dog Coin Debuts at the Weex AI Trading Hackathon
A BNB Chain meme token inspired by the Shih Tzu dog, blending community culture, creativity, and long‑term loyalty in Web3.
Fluxor: Connecting Global Builders With the WEEX AI Trading Hackathon
A hackathon platform connecting builders and creators to collaborative opportunities and innovation in Web3, enabling AI-oriented developers to experiment and create at scale.
The growth of AI-driven tools and community collaboration in Web3 has created new opportunities for developers worldwide. As a community partner and sponsor of the WEEX AI Trading Hackathon, Fluxor's mission to unify hackathon experiences and foster creative partnerships aligns with this spirit of collective innovation.
Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns
From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...
Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy
AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.
Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis
With the popularity of local payment channels, the costs of traditional transfers have been significantly reduced, and the fees are now mainly concentrated in the domestic settlement phase, which is precisely what stablecoins cannot bypass.
Zuckerberg is building an AI agent to help him as CEO
Zuckerberg is reported to be personally developing a "CEO proxy" to accelerate information acquisition and reduce management layers.
Bloomberg: Swiss Private Bank Old Guard Rifts, Is Bitcoin the Spark?
For Marc Syz, this is both a bet on the digital asset track and a complete break from Switzerland's long-established private banking dynasty.
Zuckerberg is building an AI assistant to help him be CEO
Mark Zuckerberg has been reportedly personally developing a "CEO Proxy" to speed up information flow and reduce management layers.
App