Standard Chartered Predicts Bitcoin’s Meteoric Rise to $120K – You Won’t Believe Their Target!

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Ah, the eternal dance of digital gold – Bitcoin! The British banking behemoth, Standard Chartered, has boldly ventured into the realm of predictions, suggesting that the beloved cryptocurrency could be eyeing a shiny new all-time high. Can you feel the excitement? No? Well, let me tell you, Geoffrey Kendrick, the head of their digital assets research department, certainly does.

In a report that reeks of ambition (and possibly a touch of that quintessential British understatement), Kendrick posits that Bitcoin, currently hovering at the oh-so-modest $94,980, will soar by a thrilling 26% in the coming weeks, gracefully touching the glamorous $120,000 before the sun sets on Q2 2025. It’s almost as if the digital currency has developed a taste for high-flying, skyward ambitions, much like the ones we all secretly harbor when we look at our own dwindling bank balances. Oh, the dreams!

But wait – there’s more. Kendrick attributes this impending surge to a cocktail of institutional demand, plus the irresistible urge of investors to flee from the sinking Titanic that is US assets. It’s like a financial game of musical chairs, and guess what? Bitcoin’s chair is the only one left. So, grab your hats, folks, it’s going to be a bumpy, but profitable, ride!

And for those of you who are all about the long game, fret not – Standard Chartered isn’t done yet. By the time we’re all nursing our New Year’s Eve hangovers in 2026, they predict Bitcoin will have reached a cool $200,000. Yes, you read that right: two hundred thousand smackers, probably enough to buy a yacht—or at least a very large pool float shaped like a unicorn.

Now, let’s talk about what’s really stirring the pot here. A screenshot of Kendrick’s latest research note, dated April 28th (because we all know how important dates are, right?), reveals his belief that Bitcoin is now the golden child of portfolio hedging. Forget gold. According to Kendrick, Bitcoin is far superior in protecting investors from the looming threats of a bank collapse or even that little thing called government debt default. Who needs traditional safe havens when you have decentralized, digitized salvation at your fingertips?

“We see the primary purpose of Bitcoin in investor portfolios as a hedge against risks to the existing financial system. Although gold provides a similar hedge against financial system risks, we would argue that Bitcoin is more effective in this regard because of its decentralized nature. Meanwhile, gold is a better hedge against geopolitical risks. Gold is also less correlated to risky assets than Bitcoin is, so it has traded better during this year’s tariff escalation.”

So, folks, if you’ve been keeping your eye on the Bitcoin price like a hawk watching its next meal, it might be time to adjust your expectations. Or better yet, take out a second mortgage on your house and dive into the madness. Who knows? In a few months, you might just be sipping margaritas on that yacht, thinking back to this moment when you dared to believe in the impossible. Cheers to that, my friend.

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2025-04-30 12:25