BTC Price Target $200K: ETFs and Corporate Treasuries Fuel Surge
bitcoin Poised for All-Time High Despite Historical Trends, Says Standard Chartered
bitcoin‘s Future Outlook
Investment bank Standard Chartered has released a report suggesting that bitcoin may break away from its usual post-halving trends and aim for new all-time highs in the latter half of the year.
Historical Context of bitcoin Halvings
Typically, bitcoin experiences a price decline approximately 18 months following a halving event, which occurs every four years and reduces the rate at which new bitcoins are generated. However, this time, the report indicates that strong backing from institutional investors could mitigate any potential downturn.
Insights from Geoff Kendrick
Geoff Kendrick, who leads digital assets research at Standard Chartered, emphasized that the traditional halving cycle may no longer apply. He maintains a bullish outlook, projecting bitcoin‘s price could reach $200,000 by the end of the year, with an interim target of around $135,000 by the close of Q3.
Key Drivers of bitcoin‘s Price Surge
The report highlights significant inflows from spot bitcoin exchange-traded funds (ETFs) and renewed interest from corporate treasuries, which collectively accounted for 245,000 BTC in the second quarter. These factors are anticipated to gain momentum in the upcoming months.
Macro Economic Influences
Additionally, macroeconomic factors such as the potential early exit of Federal Reserve Chair Jerome Powell and advancements in U.S. stablecoin legislation could further enhance bitcoin‘s upward trajectory.
Conclusion
The evolving landscape of bitcoin investment, coupled with institutional support and favorable macroeconomic conditions, suggests a promising outlook for the cryptocurrency in the near future.
Read more: U.S. Strategic bitcoin Reserve Marks Milestone in Institutional Adoption: Gemini
