Standard Chartered Analyst Revises Bitcoin Price Forecast, Calls $120K ‘Too Low’
Geoffrey Kendrick, head of digital assets at Standard Chartered, has revised his Bitcoin (BTC) price prediction, acknowledging that his earlier forecast of $120,000 by Q2 may be too low.
Kendrick notes that BTC has seen $5.3 billion in inflows over the past three weeks, driven by institutions like the Abu Dhabi sovereign wealth fund and Strategy (formerly MicroStrategy). With growing institutional interest, Kendrick now believes Bitcoin’s price could rise higher than expected, though he hasn’t provided a new specific target. Bitcoin is currently trading at $99,450.
Clever Robot News Desk 11th May 2025
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