Bitcoin has officially crossed the $100,000 milestone, reaching $101,800 on Thursday after rebounding from a recent low of $76,320 in April.
The surge comes amid renewed optimism in the market, with BTC up 4% on the day, 7.8% this week, and over 27% in the last 30 days. Analysts point to revived U.S.-China trade talks and bullish investor flows as key drivers behind the rally.
Standard Chartered’s Geoffrey Kendrick predicts a move to $120K this quarter, citing over $3.5 billion in spot ETF inflows and massive buying plans from Strategy (formerly MicroStrategy), which now holds 555,450 BTC with a new $84 billion plan to buy more.
With growing institutional interest and shifting macroeconomic conditions, Bitcoin appears to be gaining strength as both a hedge and a high-growth asset, paving the way for a potential new all-time high.
Standard Chartered has reinforced its optimistic Bitcoin forecast, predicting the cryptocurrency could reach $200,000 by 2025. The bank now believes its previous $120,000 target for Q2 was too conservative.
Bitcoin is just 8% shy of its all-time high of $108,786 from January 20, and with growing momentum and institutional interest, analysts are anticipating the possibility of new record highs shortly.
Image Credit: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
