Standard Chartered analyst Geoffrey Kendrick revises his Bitcoin forecast for Q2 2025, now predicting prices may exceed $120,000 due to increased institutional demand and significant inflows into Bitcoin ETFs. His prior prediction was too low in light of evolving market dynamics. As of now, Bitcoin is nearing the $100K mark, with optimism for future growth.
Standard Chartered’s analyst Geoffrey Kendrick is backtracking on his previous prediction about Bitcoin’s price, which he initially set at $120,000 for Q2 2025. In an email to clients today, Kendrick acknowledged that this estimate is, well, too conservative. He’s quite known in the crypto world for his bullish outlooks, and he’s really put himself out there with Bitcoin. Last month, he suggested that the cryptocurrency could reach this target due to factors like whale accumulation and a shift of funds from U.S. securities to assets like Bitcoin.
Kendrick’s optimism isn’t just limited to that first prediction. He also hinted that Bitcoin could possibly reach $200,000 by the end of 2025, suggesting a robust ongoing rally. There’s been quite a shift in the narrative surrounding Bitcoin lately. Initially, it was tied to risk assets, but Kendrick now sees Bitcoin as an attractive choice for reallocating capital away from U.S. holdings. This change in perspective, noted in his latest correspondence, highlights various financial flows that could drive Bitcoin’s value.
One significant development Kendrick pointed out is the massive inflow of investments into U.S.-based exchange-traded funds (ETFs) linked to Bitcoin—around $5.3 billion in just three weeks! That’s a clear indicator of institutional interest in the cryptocurrency market. Corporates are also becoming big players. Kendrick mentioned that Strategy is ramping up its Bitcoin purchasing efforts and Abu Dhabi’s Mubadala wealth fund has poured over $400 million into BlackRock’s Bitcoin ETF. It’s a sign of changing tides, and Kendrick didn’t initially consider this kind of demand in his earlier forecasts.
Given these developments, Kendrick is optimistic that Bitcoin could exceed his original $120,000 target much earlier than expected. Right now, Bitcoin is very close to the psychological milestone of $100,000, trading at about $99,535 after a 2.95% increase within 24 hours. Earlier, it almost hit $100,000, peaking at $99,882—a mere $200 away from the mark and down slightly from its previous all-time high of $109,114 recorded in January 2025.
As a final note, it should be mentioned that this information isn’t financial advice. It’s essential for everyone to do their own research before diving into investments. The opinions shared in this piece reflect the writer’s personal views, which don’t represent The Crypto Basic’s stance. Always proceed with caution!
