Bitcoin’s Wild Ride to $120K: Will Geoff Kendrick’s Crystal Ball Work?
The Lowdown, Jeeves-style:
- Bitcoin might just shuffle off to a sparkling new all-time high in Q2, says the ever-optimistic Standard Chartered chap, Geoff Kendrick.
- The surge is likely fueled by investors deciding to give U.S. assets the ol’ heave-ho. Can you blame them? 🇺🇸➡️💨
- Kendrick, not one to hedge his bets, still bets on a dazzling $200,000 by year’s end — chin music aside. 🎩💰
Picture this: investors divesting from U.S. assets faster than one can say “dash it all!” and Bitcoin eagerly stepping into the spotlight, ready to tango toward a fresh record high in Q2 of this year. That’s the rambling tale Sir Geoff Kendrick spun in his latest financial epistle on Monday.
Our hero Bitcoin, the caped crusader of cryptocurrencies, is pegged by Kendrick at a charming $120,000 this quarter, with a long-term rendezvous planned at $200,000 by the grand finale of 2025. Naturally, Bitcoin was quite the sensation, trading near a sprightly $95,300 as the ink dried on this report.
Kendrick also pointed out that the U.S. Treasury term premium — a fancy way of saying how much the government pays you to hold its IOUs — is at a 12-year high. This, apparently, shares a secret nod with Bitcoin’s price. Meanwhile, the big fish (whales, not the sort you find at a pond party) are hoarding Bitcoin like it’s the last crumpet at the tea table.
In addition to this aquatic accumulation, timing analysis shows that American investors may be sneaking a peek at more exotic, non-U.S. assets, much like Bertie Wooster eyeing a weekend at Brinkley Manor.
To wrap it all up with a bowtie, recent ETF flows suggest a diva-like “safe-haven” shift from the traditional gold to the shiny new star called BTC. As Kendrick muses, “Bitcoin may be a better hedge than gold against financial system risks,” which, frankly, sounds like something Jeeves would say with the faintest raise of an eyebrow.
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2025-04-28 16:26