After Bitcoin completed its quadrennial "halving" on Saturday Beijing time, Xiao Mo warned that Bitcoin may fall after the "halving". But Jeff Kendrick, head of digital asset research at Standard Chartered, reiterated in a recent interview that he has a price target of $150,000 for Bitcoin by the end of this year, which means that Bitcoin will more than double from the record high in March this year by the end of this year.
Mr. Kendrick said bitcoin's decline in recent weeks was largely due to a slowdown in ETF inflows and tensions in the Middle East, which he said had "dominated" the crypto market recently. But looking ahead, he believes the market could reverse its decline and continue to rise later this year as large ETF inflows continue.
Mr. Kendrick estimates that US spot bitcoin ETFs have sucked in about $12 billion since they were approved in January and predicts that while "crypto" sentiment is currently skewed towards caution, inflows could reach $50 billion to $100 billion over the next two years once the US crypto ETF market becomes more "mature".
Standard Chartered: The situation in the Middle East has triggered a recent correction in Bitcoin, but it will double again by the end of the year
2024-04-23 06:04:02
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