Oh, hello! Have you heard about Geoff Kendrick, the digital asset guru at Standard Chartered? He’s predicting that Bitcoin will skyrocket to $130,000 in just two months! 📈
In his latest note, Kendrick reckons that Bitcoin might soon break its own record and reach new heights. Can you believe it?!
Just 10 days ago, Bitcoin hit $108,786, according to CoinGecko. Now, it’s trading at $105,003, after peaking at $105,547 today. 🤯
The SEC’s Bold Move
Kendrick points out that the SEC’s decision to ditch SAB 121 (that pesky accounting rule) is a major factor driving Bitcoin’s price up. 🎉
Under Gary Gensler, SAB 121 made it tough for banks to get into crypto custody because they had to count third-party digital assets as liabilities. But now, with the new crypto-friendly administration, that’s all changed! 🎉
With the removal of SAB 121, we might see more institutional adoption as banks no longer have to worry about those restrictions. Kendrick anticipates increased institutional investment, which could send Bitcoin’s price soaring. 💰🚀
Past Predictions
Last month, Standard Chartered forecasted that Bitcoin could hit $200,000 by year-end. Wow, talk about ambition! 🤩
This week, the bank advised investors to buy the dip after Bitcoin dropped below $100,000 due to a DeepSeek-induced sell-off. Timing is everything, right?!
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2025-01-30 18:58