Standard Chartered Analyst: The previously set 'BTC target of $120,000 in Q2' was too conservative, with capital flowing into the asset in multiple forms

BlockBeats News, May 9th, Standard Chartered Bank's Head of Digital Assets, Geoffrey Kendrick, shared a half-joking comment with clients on Thursday via email: "I apologize that my target for Bitcoin to reach $120,000 in the second quarter may be too low."

Last month, Kendrick wrote in a report that he expects Bitcoin to hit a new all-time high of around $120,000 in the second quarter of 2025, citing reasons such as "strategic asset re-allocation from US assets" and "whale accumulation." "We expect these supporting factors to drive Bitcoin to a new historical high of around $120,000 in the second quarter, with the upward trend continuing throughout the summer, bringing Bitcoin close to our year-end target of $200,000."

On Thursday, Kendrick stated that his previous $120,000 Bitcoin price prediction now "looks very achievable," and even this target may be too conservative. The Standard Chartered Bank analyst said, "Bitcoin's main narrative has changed again. It used to be associated with risk assets... then it became a way to strategically reallocate assets from US assets. Now it's all about the flow of funds. Funds are flowing in various forms." (Jinse)