The strategic allocation far from the American assets of investors could see Bitcoin reach a new historical maximum in the second quarter of the year, said Kendrick’s Geoff of Standard Chartered in a report on Monday.
Kendrick sees that the largest cryptocurrency in the world reaches $ 120,000 this quarter, since it reiterated its previous objective of $ 200,000 by the end of 2025.
Bitcoin quoted around $ 95,300 at the time of publication.
Kendrick pointed out that the premium of the United States Treasury, which is closely correlated with the price of Bitcoin, is in a maximum of 12 years. The accumulation of whales has also been strong. In addition, Bitcoin’s time analysis suggests that US investors may be looking for non -American assets, he said.
Finally, the flow flows quoted by Exchange (ETF) in the last week suggest “gold security reallocation in BTC,” Kendrick wrote.
“Bitcoin can be a better coverage than gold against the risks of the financial system,” he added.
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