NEW: Bitcoin Set to Reach $150,000 by Year-End, Says Standard Chartered

Geoff Kendrick, head of digital assets research at Standard Chartered, predicts a bright future for Bitcoin, forecasting a potential rise to $150,000 by year-end—a 127% increase. Despite recent setbacks, including an 11% drop from its March peak of $73,000 and slowed ETF inflows amidst geopolitical tensions, Kendrick remains optimistic. He highlighted the $12 billion already invested in Bitcoin ETFs since January and anticipates an inflow surge to $50 billion-$100 billion over the next couple of years as the market matures.

Kendrick also pointed to Bitcoin’s post-halving ascent, a historical catalyst for price spikes due to reduced new coin circulation. The last three halvings were followed by record highs within a year, suggesting a similar outcome may be on the horizon. With a bullish view, Standard Chartered even sees Bitcoin reaching $250,000 by 2025, marking a 266% increase from its March levels. Kendrick’s analysis signals a robust period ahead for Bitcoin investors.

BNN Bloomberg

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