The strategic allowance far from American assets by investors could see Bitcoin reaching a new record of all time in the second quarter of the year, Geoff Kendrick of Standard Chartered in a report said on Monday.
Kendrick sees the largest cryptocurrency in the world as reaching $ 120,000 this quarter when he reiterated his previous $ 200,000 objective by the end of 2025.
Bitcoin was exchanged about $ 95,300 at the time of publication.
Kendrick noted that the duration of the US Treasury, which is closely correlated at the price of Bitcoin, is at a 12 -year summit. Whale accumulation was also strong. In addition, the time analysis of Bitcoin day suggests that American investors can seek non-American assets, he said.
Finally, the funds negotiated on the stock market (ETF) during the last week suggest that the “BTC gold security reallocation”, wrote Kendrick.
“Bitcoin can be better coverage than gold against the risks of the financial system,” he added.
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