{"id":52089,"date":"2025-05-08T18:35:51","date_gmt":"2025-05-08T18:35:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-strategist-walks-back-120k-btc-call-admits-target-might-be-too-low\/"},"modified":"2025-05-08T18:35:51","modified_gmt":"2025-05-08T18:35:51","slug":"standard-chartered-strategist-walks-back-120k-btc-call-admits-target-might-be-too-low","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-strategist-walks-back-120k-btc-call-admits-target-might-be-too-low\/","title":{"rendered":"Standard Chartered strategist walks back $120K BTC call, admits target might be &#8216;too low&#8217;"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/btc-bitcoin-pepe-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/btc-bitcoin-pepe-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/btc-bitcoin-pepe-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/btc-bitcoin-pepe-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li data-start=\"119\" data-end=\"424\">Geoffrey Kendrick pointed to several factors driving the bullish momentum.<\/li>\n<li data-start=\"119\" data-end=\"424\">As of Thursday, Bitcoin was trading just shy of the $100,000 mark.<\/li>\n<li data-start=\"119\" data-end=\"424\">Software company MicroStrategy has ramped up its Bitcoin purchases.<\/li>\n<\/ul>\n<p class=\"\" data-start=\"119\" data-end=\"424\">Bitcoin\u2019s relentless rally is prompting some analysts to revise their boldest predictions.<\/p>\n<p class=\"\" data-start=\"119\" data-end=\"424\">Standard Chartered\u2019s Geoffrey Kendrick, a well-known Bitcoin bull, has now <a href=\"https:\/\/www.cnbc.com\/2025\/05\/08\/stanchart-analyst-apologizes-120k-bitcoin-price-call-too-low.html\">admitted that his earlier forecast of $120,000 for the world\u2019s largest cryptocurrency might be too conservative<\/a>.<\/p>\n<p class=\"\" data-start=\"426\" data-end=\"751\">In an email shared with clients on Thursday, Kendrick said, <em data-start=\"486\" data-end=\"543\">\u201cI apologise that my USD120k Q2 target may be too low,\u201d<\/em> acknowledging the accelerating momentum in Bitcoin\u2019s price.<\/p>\n<p class=\"\" data-start=\"426\" data-end=\"751\">As of Thursday, Bitcoin was <a href=\"https:\/\/coinjournal.net\/news\/altcoins-signal-bullish-breakout-as-bitcoin-nears-100k-milestone\/\">trading just shy of the $100,000 mark<\/a>\u2014up over 3% to $99,293, after briefly touching $99,897.<\/p>\n<p class=\"\" data-start=\"753\" data-end=\"1129\">Kendrick, who heads digital asset research at Standard Chartered, originally predicted last month that Bitcoin would reach a record high of $120,000 in the second quarter of 2025.<\/p>\n<p class=\"\" data-start=\"753\" data-end=\"1129\">His thesis was built on two major trends: a strategic shift of capital away from US assets and increasing accumulation of bitcoin by institutional \u201cwhales\u201d\u2014major holders with large buying power.<\/p>\n<p class=\"\" data-start=\"1131\" data-end=\"1340\">Now, he believes those estimates may underestimate Bitcoin\u2019s real potential.<\/p>\n<p class=\"\" data-start=\"1131\" data-end=\"1340\">\u201cThe dominant story for Bitcoin has changed again,\u201d Kendrick noted. \u201cIt is now all about flows. And flows are coming in many forms.\u201d<\/p>\n<p class=\"\" data-start=\"1342\" data-end=\"1692\">Kendrick pointed to several factors driving the bullish momentum, including surging institutional investment via US spot Bitcoin ETFs.<\/p>\n<p class=\"\" data-start=\"1342\" data-end=\"1692\">Over the past three weeks alone, Bitcoin ETFs have seen $5.3 billion in inflows, according to his analysis.<\/p>\n<p class=\"\" data-start=\"1342\" data-end=\"1692\">This suggests that mainstream financial players are steadily increasing their exposure to digital assets.<\/p>\n<p class=\"\" data-start=\"1694\" data-end=\"2067\">He also highlighted big-ticket moves by institutional investors.<\/p>\n<p class=\"\" data-start=\"1694\" data-end=\"2067\">Software company MicroStrategy has ramped up its Bitcoin purchases, effectively acting as a proxy stock for Bitcoin exposure.<\/p>\n<p class=\"\" data-start=\"1694\" data-end=\"2067\">Meanwhile, the Abu Dhabi sovereign wealth fund has taken a position in BlackRock\u2019s IBIT bitcoin ETF, and even the Swiss National Bank has reportedly invested in MicroStrategy shares.<\/p>\n<p class=\"\" data-start=\"2445\" data-end=\"2637\">With Bitcoin price predictions now being revised upward and institutional capital flowing in at record levels, Kendrick\u2019s new outlook signals a potentially explosive summer for crypto markets.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/standard-chartered-strategist-walks-back-120k-bitcoin-call-admits-target-might-be-too-low\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Geoffrey Kendrick pointed to several factors driving the bullish momentum. As of Thursday, Bitcoin was trading just shy of the $100,000 mark. Software company MicroStrategy has ramped up its Bitcoin purchases. Bitcoin\u2019s relentless rally is prompting some analysts to revise their [&hellip;]<\/p>\n","protected":false},"author":3947362382,"featured_media":52090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52089"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362382"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=52089"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/52090"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=52089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=52089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=52089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}