Geoff Kendrick, head of digital assets research at Standard Chartered, is still optimistic about Bitcoin, with his firm setting a year-end price target of $150,000.
According to Business Insider, “Bitcoin’s price could still more than double this year,” said Kendrick.
Speaking on BNN Bloomberg, Kendrick pointed out that Bitcoin (BTC) has recently faced a downturn, sliding 11% from its peak at about $73,000 in March.
He noted that “this pullback stems primarily from slowing inflows into Bitcoin ETFs and rising tensions in the Middle East,” which have temporarily overshadowed the market.
Despite these challenges, Kendrick remains confident about the market’s capacity to recover by reiterating Standard Chartered’s statement from last month with a price prediction of $150,000 by year’s end.
“From where we are now, it’s starting to look like we can push higher again,” Kendrick said, citing the cyclical nature of Bitcoin’s past performance, especially after
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Author: Bralon Hill
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