Bitcoin Analyst from Standard Chartered Lowers Prediction from $120,000, Sees Price as Undervalued: Report (Paraphrased)
Let's Talk Bitcoin: All Hands on Deck for the Crypto King!
By Mehron Rokhy, May 8, 2025
Get ready, folks, because it's time to hold on tight! A banking titan's analyst is jumping ship on his Bitcoin (BTC) price prediction, claiming that the crypto juggernaut is set to blast off even higher than initially believed.
According to a hot off the press report by CNBC, Geoffrey Kendrick, Head of Digital Assets at Standard Chartered, has a case of the remorse blues for forecasting a $120,000 BTC price tag for Q2 of this year. Seems like his initial prediction might have been, dare I say, a tad too tame.
Now, Kendrick admitted that his previously modest prediction was, well, modest, stating that BTC should soar even higher. The crypto icon has seen a whopping $5.3 billion flow into it from powerful institutions like the Abu Dhbai sovereign wealth fund and software giant Strategy (formerly MicroStrategy).
So, what's Kendrick's new prediction? It's anyone's guess, but he didn't share specifics. Bitcoin is currently trading at $99,450 with a 2.6% gain during the last day.
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| Crypto | Price | 24h % Change ||--------------|---|--------------|| Bitcoin | $99,450 | 2.6% || Ethereum | $6,571 | 3.9% || Altcoins | Varies | Varies |
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- The analyst at Standard Chartered, Geoffrey Kendrick, who initially predicted a $120,000 Bitcoin price for Q2, is apologizing for his tame forecast and suggests that BTC should soar even higher due to increased institutional investments like those from the Abu Dhabi sovereign wealth fund and Strategy.
- In light of Kendrick's revised perspective, interest in cryptocurrency trading, including altcoins and Ethereum, is surging, leading many to dive deep into blockchain stories and financial strategies.
- As a result, the World's First International Crypto Trading Cup, purpose-built blockchain T-Rex, and Flipster, the official crypto Exchange partner of TALON's Dota 2 team, are all making headlines, aiming to transform fan engagement and Web 3.0.
- Despite the uncertainty surrounding Bitcoin's new price prediction, the recent crypto price update shows that BTC is trading at $99,450, with a 2.6% gain during the last day, while Ethereum is up by 3.9%.
- Despite the risks associated with investing in cryptocurrencies, many are eager to follow the price action of major players like Bitcoin and Ethereum, especially as the future of finance continues to evolve around blockchain technology.
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