Standard Chartered Bank Predicts Bitcoin Will Rise to $120,000 in the Second Quarter, Maintains Year-End Target of $200,000

According to The Block, Geoffrey Kendrick, Head of Global Digital Asset Research at Standard Chartered Bank, predicts that Bitcoin will reach a new high of approximately $120,000 in the second quarter, mainly driven by U.S. asset reallocation. Kendrick states that now is the best time to buy Bitcoin and maintains his target of $200,000 by the end of 2025.

He points out that several indicators support the next upward trend for Bitcoin, including the U.S. Treasury term premium reaching its highest point in 12 years and signs that U.S. investors may be seeking non-U.S. assets. Additionally, whale investors holding over 1,000 Bitcoins have continued accumulating during the market decline caused by tariffs and the subsequent rebound related to risks to the Fed's independence, highlighting the importance of this period for Bitcoin's next move. The current Bitcoin price is about $95,500, with an all-time high of $108,786 on January 20, 2025. With growing institutional interest and potential passage of U.S. stablecoin legislation, Bitcoin's rise may continue into the summer.