Standard Chartered Analyst Backs Off Bitcoin Price Prediction, Now Calls $120,000 BTC ‘Too Low’: Report
An analyst of the standard banking giant Charterd would have changed his price prediction for Bitcoin (BTC), predicting that the King Crypto pulls even higher than expected previously.
According to a new report By CNBC, Geoffrey Kendrick, manager of the company's digital assets, apologizes for predicting that BTC will reach the price of $ 120,000 in the second quarter of this year, noting that his forecasts could be too low.
As Kendrick said last month when he made the prediction, according to CNBC,
“We expect these support factors to push the BTC to a new record of around $ 120,000 in the second second quarter. We see earnings continue during the summer, which took the BTC-USD to our end-of-year forecasts of $ 200,000. ”
However, Kendrick now claims that the flagship digital assets should increase even more because the money is circulating there from many avenues, noting that the BTC has experienced a value of $ 5.3 billion in the last three weeks from eminent institutions, such as the Sovereign Abu Dhbai wealth fund as well as the software company strategy, formerly known under the name of Microstrategy.
“The dominant history of Bitcoin has changed again. It was [correlated] To risk assets … It then became a way to position for the reallocation of strategic assets of American assets, these are now flows. And the flows arrive in many forms. »»
Although Kendrick said his previous prediction was too weak, he did not specifically do a new one. Bitcoin is negotiated at $ 99,450 at the time of the editorial staff, a gain of 2.6% in the last day.
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