1 month ago
Strategic allocation distant from U.S. assets by investors could spot bitcoin deed a caller all-time precocious successful the 2nd 4th of the year, Standard Chartered's Geoff Kendrick said successful a study Monday.
Kendrick sees the world's largest cryptocurrency arsenic reaching $120,000 this 4th arsenic helium reiterated his erstwhile people of $200,000 by the extremity of 2025.
Bitcoin was trading astir $95,300 astatine work time.
Kendrick noted that the U.S. Treasury word premium, which is intimately correlated to the bitcoin price, is astatine a 12-year high. Accumulation by whales has besides been strong. In addition, bitcoin time-of-day investigation suggests that American investors whitethorn beryllium looking for non-U.S. assets, helium said.
Lastly, exchange-traded money (ETF) flows successful the past week suggest "safe-haven reallocation from golden into BTC," wrote Kendrick.
"Bitcoin whitethorn beryllium a amended hedge than golden against fiscal strategy risks," helium added.
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