Standard Chartered expects a new record in Bitcoin: "There are now two new forces"
Standard Chartered, one of the major banks serving worldwide, has published a new report on Bitcoin. The bank's head of digital assets, Geoff Kendrick, stated that they expect the decline after the Bitcoin halving to be much weaker than anticipated. Kendrick said, "There are now two new forces keeping the price of Bitcoin up." Global giant bank Standard Chartered, which has a very serious customer base especially in the Asia region, has published a new Bitcoin analysis. In the report prepared under the leadership of Geoff Kendrick, it was stated that the previous forecast of 200,000 dollars for the end of the year was supported.
"135 thousand dollars may be seen in the 3rd quarter" The report shared under the signature of Kendrick stated that an increase is expected to continue in the current third quarter of 2025. It was mentioned that Bitcoin could rise to 135 thousand dollars in this quarter, and it was commented that institutional purchases have kept the price elevated.
"There are now two new powers" Analyst Kendrick, who stated that the Bitcoin halving cycle has now disappeared, used the following expressions:
"We expect the upward trend in prices to continue. The purchases of Bitcoin by companies and ETFs are keeping the price elevated. These two factors were not present in previous cycles. These two new forces are keeping the price strong. There may be a decline at the end of the 3rd quarter and the beginning of the 4th quarter, but this decline will not be as strong as in previous halving cycles. In old halvings, a sharp decline would occur 18 months after the halving. This decline or volatility may be seen again during that period. But ETF and company purchases will keep the price elevated. The Bitcoin purchases in the 3rd and 4th quarters could also surpass the 245 in company purchases seen in the first half of the year."
"ETFs have seen an outflow, but..." Kendrick stated that Bitcoin spot ETFs have seen outflows after 15 days, expressing that this situation did not disrupt the overall trend, and "After 15 days of positive inflows, there was an outflow of 342 million dollars. This figure corresponds to only 7% of the total inflow of 4.8 billion dollars, and the long-term outlook is not negatively affected."
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AdEmK
· 07-03 03:46
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Ryakpanda
· 07-02 23:54
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AgentWXO
· 07-02 19:38
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GateUser-722b43cd
· 07-02 19:26
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Cryptogether
· 07-02 18:13
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· 07-02 17:02
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Standard Chartered expects a new record in Bitcoin: "There are now two new forces"
Standard Chartered, one of the major banks serving worldwide, has published a new report on Bitcoin. The bank's head of digital assets, Geoff Kendrick, stated that they expect the decline after the Bitcoin halving to be much weaker than anticipated. Kendrick said, "There are now two new forces keeping the price of Bitcoin up."
Global giant bank Standard Chartered, which has a very serious customer base especially in the Asia region, has published a new Bitcoin analysis. In the report prepared under the leadership of Geoff Kendrick, it was stated that the previous forecast of 200,000 dollars for the end of the year was supported.
"135 thousand dollars may be seen in the 3rd quarter"
The report shared under the signature of Kendrick stated that an increase is expected to continue in the current third quarter of 2025. It was mentioned that Bitcoin could rise to 135 thousand dollars in this quarter, and it was commented that institutional purchases have kept the price elevated.
"There are now two new powers"
Analyst Kendrick, who stated that the Bitcoin halving cycle has now disappeared, used the following expressions:
"We expect the upward trend in prices to continue. The purchases of Bitcoin by companies and ETFs are keeping the price elevated. These two factors were not present in previous cycles. These two new forces are keeping the price strong. There may be a decline at the end of the 3rd quarter and the beginning of the 4th quarter, but this decline will not be as strong as in previous halving cycles. In old halvings, a sharp decline would occur 18 months after the halving. This decline or volatility may be seen again during that period. But ETF and company purchases will keep the price elevated. The Bitcoin purchases in the 3rd and 4th quarters could also surpass the 245 in company purchases seen in the first half of the year."
"ETFs have seen an outflow, but..."
Kendrick stated that Bitcoin spot ETFs have seen outflows after 15 days, expressing that this situation did not disrupt the overall trend, and "After 15 days of positive inflows, there was an outflow of 342 million dollars. This figure corresponds to only 7% of the total inflow of 4.8 billion dollars, and the long-term outlook is not negatively affected."