Key dishes to remember
- Standard affections of a bitcoin price of $ 200,000 by the end of the year, against an initial target of $ 120,000.
- Bitcoin exceeded $ 100,000 on Thursday, its highest level since February.
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Bitcoin has crossed the $ 100,000 mark early Thursday, its highest level since February, and is now only 8% below its top of all time, according to TradingView.
While the bullish impetus continues to accumulate, Geoffrey Kendrick, manager of digital assets of Standard Charterd, updated his target of T2 course for Bitcoin.
In an email to customers on Thursday, he apologized for predicting that Bitcoin would end at $ 120,000, now admitting that the goal was perhaps far too low.
In an April report, Kendrick predicted that Bitcoin could reach a new summit of $ 120,000 in the second quarter. The analyst also maintained a Bitcoin price target of $ 200,000 by the end of the year.
Its forecasts were based on several support factors, including the strategic reallowing of American assets, strong accumulations of whales, institutional flows and regulatory rear winds.
Kendrick now sees his first price call as “very feasible” that market conditions have come again.
First, Bitcoin was considered correlated with risk assets as technological actions, said the analyst. Then it became a coverage or a strategic game against American assets. Now, this is the money flowing in Bitcoin, and they come from various sources.
The Bitcoin rally began on Wednesday evening while the digital assets exceeded $ 98,000, motivated by optimism concerning the next American-Chinese commercial discussions and the increase in institutional interests.
This upward trend resumed after the Governor of Arizona unexpectedly signed a Bitcoin reserve bill on Wednesday, just days after his veto opinion to distinct cryptographic legislation. The signature came after the New Hampshire marked history as the first American state to adopt a Bitcoin reserve bill.
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