Standard Chartered Bank: Bitcoin Q2 Could Rise to $120,000, Now is the Time to "Buy"

BlockBeats News, April 28th, according to The Block, Standard Chartered Bank's Global Head of Digital Assets Research, Geoffrey Kendrick, stated that Bitcoin is expected to hit a new all-time high in the second quarter, reaching around $120,000. This trend will be driven by a strategic reallocation of funds from US assets to other areas, making it a "buy" opportunity right now.

In a new report released on Monday, Kendrick pointed out: "Multiple indicators support our view that Bitcoin is poised for a new uptrend. The US Treasury yield curve premium (highly correlated with Bitcoin) is currently at a 12-year high. Based on trading period analysis, US investors may be seeking to allocate to non-US assets. At the same time, Bitcoin 'whales' (large holders) are actively accumulating. Additionally, last week's ETF flows show that some safe haven funds are shifting from gold to Bitcoin."