Stancart analyst apologizes 120,000 dollars for the price of bitcoin “very low”

A Carted Standard An analyst who predicted Bitcoin The reaching of $ 120,000 in the second quarter says that the price invitation is “very low”.

“I apologize that my Q2 Q2 USD120K goal may be very low,” said Jeffrey Kendrick, head of digital assets at Standard Charterd.

Last month, Kindrik wrote a note stating that Bitcoin is expected to reach the highest level ever at about $ 120,000 in the second quarter of 2025 against the background of “re -allocating strategic assets away from American assets” and “accumulation by” whales “(its main holders).”

“We expect these supportive factors BTC to pay a new rise in an absolutely about $ 120,000 in the second quarter,” Kindrik said at the time. “We see continuous gains during the summer, with BTC-Us take towards the end of the year of the year 200,000.”

On Thursday, Kindrik said the $ 120,000 bitcoin price is “it looks realable” and this may be a very low goal.

“The dominant story of Bitcoin has changed again,” said Carted’s record analyst. “It was a connection with risks to risks … Then it became a way to re -allocate strategic assets from American assets.”

“It is all about flows now. The flows come in many forms,” ​​he added.

His comments come as captain again It topped the level of 100,000 dollars. The price of the cryptocurrency was traded by 4.5 % at 10011.22 dollars, according to currency standards.

In recent years, analysts have chosen a pattern that shows bitcoin trading in a similar way to asset risks such as American technology shares – the logical basis is that increasing institutional capital flows in Bitcoin make it more vulnerable to the face of shares in the same market.

Kendrick-who has long occupied a bullish stance in the encrypted currency-said that the boxes circulated on the stock exchange in the United States have witnessed $ 5.3 billion of flows in the past three weeks, indicating that more institutional money accumulates.

He pointed to several examples of large investors who devote part of their governor to Bitcoin, including the software company Microstrategy The intensification of the purchases of Bitcoin, the Abu Dhbai Sovereign Wealth Fund, which holds IBT Bitcoin ETF from Blackrock, and the purchase of the Swiss National Bank from Microstrategy.

Microstrategy is widely considered a bitcoin agent.