Standard Chartered “BTC target price $120,000? It is too low now”
Standard Chartered With An Optimistic Analytical Tendency Towards Bitcoin's Future (Source: FT)
Standard Chartered Has Stated That The Previous Target Of 120,000 Dollars For Bitcoin (BTC) Does Not Reflect Reality. According To CNBC, Standard Chartered Analyst Geoff Kendrick Mentioned In An Email Sent To Clients On Thursday That “Although We Initially Set The Second Quarter Target Price For BTC At 120,000 Dollars, That Was Too Low,” Indicating The Possibility Of An Upward Adjustment.
He Explained, “The Narrative Surrounding Bitcoin Is Changing Once Again. While In The Past, BTC Was Noticed For Its Correlation With Risk Assets And As A Means Of Strategic Asset Allocation, It Is Now Moving Solely By The Flow Of Fund Inflows.”
Particularly Regarding The United States Bitcoin Spot ETF Market, He Analyzed That “53 Billion Dollars Have Flowed In Over The Past Three Weeks,” Which Indicates A Strong Signal That Institutional Investor Demand Is Becoming Formalized.
The Market Is Suggesting The Possibility That Standard Chartered May Soon Officially Adjust The Bitcoin Price Target Upwards. Kendrick's Remarks Are Interpreted As A Bullish Scenario Based On Supply-Led Market Structure Changes Beyond Mere Technical Analysis.
If The Institution-Centered Fund Inflow Continues, The Expectation Is Spreading In The Market That The BTC Price Could Skyrocket To Levels Far Above Previous Expectations.