Standard Chartered Predicts Bitcoin Rise to $135,000 Soon
- Standard Chartered forecasts Bitcoin’s rise to $135,000.
- Driven by ETF inflows and macroeconomic dynamics.
- Market observers eye institutional demand dynamics.
Standard Chartered’s Geoffrey Kendrick forecasts Bitcoin may exceed $135,000 within weeks due to ETF inflows, U.S. government shutdown risk, and robust macroeconomic factors.
Kendrick’s projection underscores Bitcoin’s potential amidst ETF growth, impacting investor sentiment and market dynamics with increasing optimism for accelerated adoption and rising institutional interest.
Standard Chartered suggests Bitcoin is poised for a major leap, expecting prices to exceed $135,000 in the near term. These projections are influenced by historic ETF inflows, alongside other macroeconomic factors and potential impacts from the U.S. government’s fiscal challenges.
Geoffrey Kendrick, the Global Head of Digital Assets Research at Standard Chartered, is leading the bank’s cryptocurrency strategy. His predictions focus on Bitcoin’s potential rise due to ETF inflows and macro factors, aiming for a $135,000 target in the coming weeks.
The forecast by Standard Chartered suggests a possible impact on Bitcoin’s trading prices. Currently, Bitcoin values hover just below their all-time highs. Investor sentiment and market momentum could shift markedly if the target is approached.
Financial signaling indicates substantial institutional interest in Bitcoin, as illustrated by increased ETF inflows. Geoffrey Kendrick remarked, “Bitcoin is poised to break past its all-time high within days and could reach $135,000 in the coming weeks, a little later than my previous forecast. Net inflows into Bitcoin ETFs stand at nearly $50 billion, with three months still to go in the year.” This comes as more financial entities engage in Bitcoin trading, potentially leading to more robust market movements and heightened volatility.
Market analysts attribute these predictions to ETF inflows bolstering Bitcoin’s demand, signaling greater institutional adoption. The heightening demand and governmental fiscal issues could reshape Bitcoin’s market dynamics.
Comparatively, past cycles show that Bitcoin has historically responded well to positive ETF acceptances and macroeconomic variables. Analysts are examining these trends for future projections, noting historical Q4 gains as a potential template for upcoming market behavior.
