According to Mars Finance, after Bitcoin completed its quadrennial halving last Saturday Beijing time, JPMorgan warned that Bitcoin may fall after the halving. However, Jeff Kendrick, head of digital asset research at Standard Chartered Bank, reiterated in a recent interview that his price target for Bitcoin by the end of this year is $150,000, which means that Bitcoin will more than double from its historical high in March this year by the end of this year.
Kendrick said that Bitcoin's decline in recent weeks was mainly due to slowing ETF inflows and tensions in the Middle East, which he bluntly said has "dominated" the crypto market recently. But looking ahead, he believes that as large-scale Bitcoin ETF funds continue to flow in, the cryptocurrency market may reverse its decline and continue to rise later this year. Kendrick estimates that the U.S. spot Bitcoin ETF has attracted about $12 billion in funds since it was approved in January this year. He predicts that although the sentiment in the "crypto" is currently cautious, once the U.S. cryptocurrency ETF market becomes more "mature", inflows may reach $50 billion to $100 billion in the next two years. (Cailian Press)
