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Standard Chartered: Bitcoin could reach 200,000 USD by the end of the year
Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, reaffirmed the year-end Bitcoin price target of 200,000 USD, emphasizing strong ETF inflows and the potential government shutdown in America as important bullish short term factors.
According to Kendrick, these factors could drive investor demand and market sentiment, helping Bitcoin surpass its previous record high in just a few days. He also predicts that Bitcoin could reach 135,000 USD in the coming weeks, slightly later than the initial forecast.
Kendrick's perspective emphasizes the impact of both institutional investment and macro events on cryptocurrency performance. He highlights that the continuous flow of ETF money reflects the increasing confidence from institutions, while political instability such as government shutdowns can drive market volatility.