Banking titan Standard Chartered foresees Bitcoin reaching an unprecedented summit in the current quarter, as reported, and offers its estimate on what that peak might look like.
Crypto Insights:
Get ready folks, Standard Chartered's got some big info for us! They're predicting that ol' Bitcoin (BTC) could hit a whopping $120,000 by Q2's end, y'hear? Geoffrey Kendrick, their head digital assets research guru, made this call in a new report. And that ain't all; their Long-Term Outlook finds Bitcoin surging to a jaw-dropping $200,000 by the end of 2025!
So what's causing this crypto madness? The increasing institutional desire tooffload U.S. assets, baby! Kendrick believes these factors will drive the price of Bitcoin soaring over the coming weeks. Let's hear it for the greenbacks flying away and the Bitcoin gaining ground!
Wanna know more about this? Standard Chartered's report explains that the decentralized nature of Bitcoin makes it a better hedge against risks in the financial system, whether those risks come from the private or the public sector. In their eyes, Bitcoin's got a stronger position than gold for defending against financial Instability, though gold still reigns for geopolitical risks.
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Source: The Daily Hodl
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- With Standard Chartered predicting Bitcoin could reach $120,000 by Q2's end and $200,000 by 2025, some analysts are warning of a potential capitulation event for cryptocurrency, reminding investors of the volatile nature of the market.
- As institutional interest in cryptocurrency continues to grow, Graham tune Robotics has collaborated with Floki to launch an AI companion robot offering token rewards, signaling the ongoing integration of cryptocurrency and artificial intelligence.
- The Ethereum Foundation is switching its focus to ethereum scaling and user experience, aiming to improve the efficiency and accessibility of the world's second most valuable cryptocurrency.
- In a shift from ethereum, macro expert Raoul Pal sees Bitcoin soaring for the next 12 months, but emphasizes the importance of a weaker dollar for global debt serviceability in driving the crypto market.
- As the world of finance is increasingly dominated by cryptocurrencies like Bitcoin and Ethereum, Galaxy Digital has moved its ethereum holdings to Solana, signaling a growing interest in altcoins and the broader decentralized finance (DeFi) sector.
