Standard Chartered Bank: Bitcoin is expected to rise to $120,000 in Q2, and now is the time to "buy"

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04-28 19:58

On April 28, according to The Block, Geoffrey Kendrick, global head of digital assets research at Standard Chartered Bank, said that Bitcoin is expected to hit a record high in the second quarter, reaching about $120,000, a trend that will be driven by the strategic relocation of funds from US assets to other areas, and now is the time to "buy".

Kendrick pointed out in a new report released on Monday: "Many indicators support our view that Bitcoin will enter a new round of upswing. The U.S. Treasury maturity premium (highly related to Bitcoin) is currently at a 12-year high. By trading session analysis, U.S. investors may be seeking to allocate non-U.S. assets. Meanwhile, Bitcoin “Giant Whale” (large holders) is actively increasing its holdings. In addition, ETF capital flows over the past week show that some safe-haven funds are shifting from gold to Bitcoin."

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