Standard Chartered analyst Geoff Kendrick once again suggested that, despite Bitcoin's decline at the beginning of the year, there are three major reasons that will drive Bitcoin to a new rally this quarter and a new all-time high:
1. Economic turmoil has increased the attractiveness of Bitcoin, and this transfer of funds between safe-haven assets has begun. Funds are flowing from gold ETFs to bitcoin ETFs, which means that investors are beginning to see bitcoin as a better safe-haven asset than gold.
2. Tariff-induced purchases, with data showing that "bitcoin whales" (investors with more than 1,000 bitcoins) have been hoarding bitcoins during the tariff-induced price drop.
3. More catalysts are forming, such as increased purchases by pension funds and sovereign wealth funds. Trump has previously emphasized the possibility of stablecoin legislation this summer.
Standard Chartered: Three reasons why BTC may be in a new round of gains and hit a new high this quarter
2025-04-29 08:49:23
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