Standard Chartered Analyst Reiterates Bullish View on Bitcoin to $200,000

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According to HT's report, Foresight News reports that Standard Chartered analyst Jeff Kendrick stated that Bitcoin could reach an all-time high if concerns about the Federal Reserve's independence continue. Due to its decentralized ledger, cryptocurrency serves as a hedge against risks in the existing financial system. This was exemplified by the risk in US Treasury bonds after Trump hinted he might dismiss Federal Reserve Chairman Powell in hopes of lowering interest rates. Investors saw a significant increase in the yield premium of long-term Treasury bonds over short-term bonds, which benefited Bitcoin. Bitcoin rose to a six-week high of $90,459. Standard Chartered still predicts that Bitcoin's price will rise to $200,000 by the end of 2025.

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