Bitcoin Analyst Revises Price Forecast to Exceed $120,000
- Geoffrey Kendrick sees $120,000 as too low for Bitcoin.
- ETF investments drive Bitcoin’s upward potential.
- Expected Bitcoin peak may exceed previous forecasts.
Analysts suggest the reevaluation of Bitcoin’s price target signals shifting market dynamics. Major institutional investments and market confidence have spurred upward revisions.
ETF Inflows and Market Dynamics
Geoffrey Kendrick from Standard Chartered now suggests bitcoin’s value might surpass $120,000 due to “massive capital inflows” into U.S. spot Bitcoin ETFs. This represents a significant shift in past estimates which previously placed the peak around $120,000 by Q2 2025.
Analysts like Geoffrey Kendrick highlight major capital inflows, particularly $5.3 billion into U.S. spot Bitcoin ETFs in recent weeks. Institutional involvement is reshaping expectations and marks Bitcoin’s potential climb beyond earlier predictions of $120,000.
Institutional Demand and Market Stability
This upward revision reflects increased institutional demand and market stability, stabilizing Bitcoin’s status as a macro asset. Market re-pricing has framed $120,000 as a conservative target, with Bitcoin trading near $100,000. Future anticipations are bolstered by ETF-induced market maturity.
“I apologise that my USD120k Q2 target may be too low.” — Geoffrey Kendrick, Head of Digital Assets, Standard Chartered
Geoffrey Kendrick’s reassessment aligns with historical trends following Bitcoin halving events, where prices surged beyond forecasts. Analysts compare current market conditions to prior halving cycles, expecting Bitcoin to potentially exceed $120,000 within 12–18 months due to structural market changes.
Broader Implications of Bitcoin’s Rise
The broader implications include heightened institutional interest and potential regulatory shifts. Bitcoin’s rising stature in financial markets could spur developments in ETF approvals and broader cryptocurrency adoption, influencing investor sentiment over the long term.
