Gelonghui, April 25 | Geoff Kendrick, a well-known crypto friend and head of digital asset research at Standard Chartered, said in an interview last week that cryptocurrencies are facing a bullish setting, and their upward trend may be rekindled. The price of Bitcoin may still increase by 1% this year. More than times.
Reiterates Bitcoin price target of $150,000.
Kendrick estimates that the spot Bitcoin ETF has attracted about $12 billion since it was approved for listing in January.
Despite the temporary cautious attitude of retail investors, once the U.S. cryptocurrency ETF market becomes more \”mature,\” inflows may increase to $50 billion to $100 billion in the next two years.
He also said that after the completion of the new round of \”halving\”, Bitcoin also seems to be on a bullish trajectory.
Halving refers to the reduction of the reward amount for Bitcoin miners by half, resulting in a reduction in the size of new Bitcoins entering circulation.
Traditionally, this would cause Bitcoin prices to surge.
Looking back at the past three halvings, the price of Bitcoin always hit a record high within the next 12 months after each occurrence.
“The way things are going, it looks like we can go even higher again.
\”He said.
Due to Kendrick\’s optimistic expectations, Standard Chartered is one of the most optimistic institutions on Wall Street about Bitcoin.
In April last year, he estimated that Bitcoin would reach US$100,000 by the end of this year, and now he is “increasing the value” again.
Kendrick also predicts that the price of Bitcoin may climb to $250,000 in 2025, which would represent a 266% rebound from the high in March.
