Standard Chartered Predicts Bitcoin Surpassing $135,000 Soon
- Standard Chartered forecasts Bitcoin surpassing $135,000 fueled by institutional interest.
- Geoff Kendrick leads the prediction with emphasis on market conditions.
- Impacts could extend to Ethereum and other cryptocurrencies.
Standard Chartered forecasts Bitcoin could surpass $135,000 next week due to increasing spot ETF inflows and institutional adoption, according to Geoff Kendrick, Head of Digital Assets Research.
This prediction signifies potential significant market activity, impacting correlated assets like Ethereum, with investor focus on Bitcoin’s evolving role in modern finance.
Standard Chartered predicts Bitcoin will soon exceed $135,000, citing institutional adoption and ETF inflows. This forecast aligns with historical market trends, suggesting significant buying pressure and price surges similar to past ETF approval events.
The prediction, led by Geoff Kendrick, emphasizes institutional inflows as a central factor, projecting Bitcoin to reach $200,000 by year-end. Kendrick’s analysis points to a highly favorable market environment for Bitcoin and associated digital assets.
Geoff Kendrick, Head of Digital Assets Research, Standard Chartered, remarked that “Market conditions are primed for another upward surge that could push Bitcoin as high as $135,000 in the near term.”
Immediate effects could include increased Bitcoin trading volumes and heightened investor interest. Markets may experience correlated asset gains, especially for Ethereum and major DeFi tokens, driven by positive sentiment and liquidity inflows.
Institutional adoptions are poised to drive notable financial changes. The projected price could further solidify Bitcoin’s status in traditional finance, attracting investors and facilitating broader market integration for cryptocurrencies.
Ongoing institutional trends and regulatory discussions underscore the systemic interest in cryptocurrencies. Historically, similar forecasts have prompted price inflations and investor shifts towards digital assets, suggesting a probable increase in participation.
The potential outcomes include a reshaping of financial markets as more institutional players engage with cryptocurrencies. Historical patterns support the forecast, with data indicating rapid price moves post-regulatory advancements, especially during prominent ETF events.
