According to Foresight News and The Block, Geoffrey Kendrick, the global digital asset research head at Standard Chartered Bank, predicts that Bitcoin will reach a new high of approximately $120,000 in the second quarter, primarily driven by US asset reallocation. Kendrick states that the current time is the best opportunity to buy Bitcoin and maintains his target of $200,000 by the end of 2025.
He points out that multiple indicators support Bitcoin's next rally, including US Treasury term premiums reaching a 12-year high and signs that US investors may be seeking non-US assets. Additionally, whale investors holding over 1,000 Bitcoin have continued to accumulate during market dips caused by tariffs and subsequent rebounds related to Federal Reserve independence risks, highlighting the importance of this period for Bitcoin's next move. The current Bitcoin price is around $95,500, with its historical high at $108,786 on January 20, 2025. With growing institutional interest and potential passage of US stablecoin legislation, Bitcoin's gains may continue through the summer.
