In an interview with the signs of CNBC Street on February 27, Jeffrey Kendrick, head of digital asset research at Standard Chartard, presented insightful visions about the low prices in Bitcoin and the development of bold expectations for the largest cryptocurrency in the world. Despite the short -term fluctuations, Kendrick expects Bitcoin to reach $ 200,000 this year and exceed $ 500,000 before the end of President Trump’s duration.
Bitcoin crashes? No problem!
Kendrick opened discussion By noting the influence of political developments on the feelings of investors: “So I think the Trump administration will be moderately positive. So we came to January 20, hoping a lot and you can say that there was already a lot of positivity.”
He highlighted an immediate post-dimensional shift in the organizational position-specifically, the removal of SAB 121, which he described as “hindering financial institutions.” Kendrick also dealt with a widespread strategic strategic reserves, which instead was replaced by a “stock” approach. According to Kindrik: “Inventory for me is fine because it is prescribed in other kings […] Both are inside the United States [and outside]. A number of US states are studying bitcoin currencies on their public budget. “
However, the markets were shaken by fresh uncertainty. Kendrick pointed to a continuous trade war and geopolitical points: “In the past two weeks, initiatives have been very confusing for risk origins […] Definitions on and stop. Canada, Mexico, European Union […] It is clear that some of the possible positives wandering in Ukraine or the Middle East, but nothing is really strong on any of these origins and risks does not like uncertainty. “
Specifically inside the field of encryption, he was martyred by breastfeeding, trouble with Solana Meme Coin Scams, and a “confusing” environment in general as shareholders in withdrawal. Kindrik confirmed a successive effect on bitcoin.
When asked if Bitcoin is still a real diversity amid its association with stocks, Kendrick has kept a careful view: “Certainly when we see big movements as we have seen in the past few weeks […] In the negative direction risk assets all trade together […] In the medium term, I think the diversification story is reasonable […] The issue of Bitcoin use in particular is diversification against risks around traditional financial markets. “
Kendrick also addressed the large external flows of the investment funds circulating since the opening of Trump: “Even last week, we saw about 3 billion dollars in the external flows in terms of the traded investment funds […] We reached a clear site of about $ 40 billion in flows over the first 12 months of the investment funds circulated in the United States […] But last week or so, we saw $ 3 billion of external flows. “
It is estimated that those who bought Bitcoin after the elections in November are now “highly underwater” for $ 2 billion in paper losses. This latest group of its holders, in addition to the retail sharing that still exists in the sector, has inflated fluctuations: “It is very difficult for investors to stick to losses through losses […] When you see moves as we saw this week, you tend to get some panic. “
The goal of $ 200,000 is still playing
He also repeated the emphasis on the need for deeper institutional participation – the composition of banks such as Standard ChartDMMENT GIANTS such as Blackrock – to improve nursery solutions and reduce the frequency of such breaches as bybit One, which leads to the addresses of destroyed newspapers:
“When the industry becomes more institutional, it must be safer […] We hope to get some organizational clarity in the United States as well […] This must add to these medium -range side capabilities that reach Bitcoin for me up to $ 200,000 this year and $ 500,000 before Trump leaves his office. “
Looking at the future, Kindrik stressed that organizational clarity – especially about Stablecoin and KYC rules – can lead to a wave of institutional capital flows and even sovereignty. The general pension funds and sovereign wealth funds are identified as two engines in the axial market, in reference to the purchase of the sovereign wealth fund for Abu Dhahi, which is 4,700 equivalent shares in the investment funds traded in the Black ETF at the end of 2024:
“There is this long -term sector that is still participating more […] After that, too, the only sovereignty that we know so far has bought the circulating investment funds is the sovereign wealth fund […] I expected more this year to come. “
At the time of the press, BTC was traded at $ 81,428.
Distinctive photo from YouTube, Chart from TradingView.com
