The price of Bitcoin (CRYPTO: BTC) could still more than double this year, according to a bullish forecast by Standard Chartered analyst Geoff Kendrick, despite the recent pullback.
What Happened: Kendrick, the head of digital assets research at Standard Chartered, has reiterated the firm’s price target of $150,000 for Bitcoin by the end of 2024, suggesting a 127% increase from the current levels, during an interview with BNN Bloomberg.
Despite a recent 11% slide from its all-time high of around $73,000 in March, Kendrick believes that Bitcoin’s price could surge again later in the year. The pullback was attributed to a decrease in inflows into Bitcoin ETFs and escalating tensions in the Middle East.
“From where we are now, it’s starting to look like we can push higher again,” Kendrick said.
Kendrick anticipates a significant influx of investor funds in the coming months, with spot Bitcoin ETFs already amassing around $12 billion since their approval in January. He predicts that these inflows could reach $50 billion to $100 billion over the next two years as the U.S. crypto ETF market matures.
See Also: Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst …
Full story available on Benzinga.com
The price of Bitcoin (CRYPTO: BTC) could still more than double this year, according to a bullish forecast by Standard Chartered analyst Geoff Kendrick, despite the recent pullback.
What Happened: Kendrick, the head of digital assets research at Standard Chartered, has reiterated the firm’s price target of $150,000 for Bitcoin by the end of 2024, suggesting a 127% increase from the current levels, during an interview with BNN Bloomberg.
Despite a recent 11% slide from its all-time high of around $73,000 in March, Kendrick believes that Bitcoin’s price could surge again later in the year. The pullback was attributed to a decrease in inflows into Bitcoin ETFs and escalating tensions in the Middle East.
“From where we are now, it’s starting to look like we can push higher again,” Kendrick said.
Kendrick anticipates a significant influx of investor funds in the coming months, with spot Bitcoin ETFs already amassing around $12 billion since their approval in January. He predicts that these inflows could reach $50 billion to $100 billion over the next two years as the U.S. crypto ETF market matures.
See Also: Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst …
Full story available on Benzinga.com
The price of Bitcoin (CRYPTO: BTC) could still more than double this year, according to a bullish forecast by Standard Chartered analyst Geoff Kendrick, despite the recent pullback.
What Happened: Kendrick, the head of digital assets research at Standard Chartered, has reiterated the firm’s price target of $150,000 for Bitcoin by the end of 2024, suggesting a 127% increase from the current levels, during an interview with BNN Bloomberg.
Despite a recent 11% slide from its all-time high of around $73,000 in March, Kendrick believes that Bitcoin’s price could surge again later in the year. The pullback was attributed to a decrease in inflows into Bitcoin ETFs and escalating tensions in the Middle East.
“From where we are now, it’s starting to look like we can push higher again,” Kendrick said.
Kendrick anticipates a significant influx of investor funds in the coming months, with spot Bitcoin ETFs already amassing around $12 billion since their approval in January. He predicts that these inflows could reach $50 billion to $100 billion over the next two years as the U.S. crypto ETF market matures.
See Also: Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst …Full story available on Benzinga.com Read More$BTC, $ETH, Bitcoin, Cryptocurrency, Geoff Kendrick, Kaustubh Bagalkote, News, Standard Chartered, Global, Markets, Analyst Ratings, $ETH, $BTC, News, Cryptocurrency, Global, Markets, Analyst Ratings, Benzinga Markets
