As the leading cryptocurrency Bitcoin (BTC) continues its volatile movements, Standard Chartered analyst predicted that BTC could reach $130,000 by March. Geoffrey Kendrick, head of crypto research at Standard Chartered, said the Bitcoin price could hit $130,000 within two months as institutional inflows accelerate, The Block reported. Kendrick stated that the market entered a period of relative stability following the US FED's decision to keep interest rates constant yesterday. Geoff Kendrick, who expects prices to rise as institutional inflows increase and market sentiment shifts towards risk, stated that the FED's stance has reduced the current uncertainty. The analyst also said that the US SEC’s repeal of SAB 121, which allowed traditional financial institutions to store digital assets, was a major catalyst for institutional BTC adoption. “The SEC has rescinded SAB21. This Policy change removes a significant regulatory hurdle by allowing more traditional financial institutions to store digital assets. At this point, institutional flows into Bitcoin will continue to accelerate and push the price higher. As a result, I expect Bitcoin to test $109,000 in the coming days or weeks and then move up to the $112,000 to $130,000 range in February-March.” Kendrick said that after the recent decline, the market has gotten rid of excessive leverage, creating a stronger environment for further gains. *This is not investment advice. Continue Reading: Standard Chartered, Expecting $200K in Bitcoin, Announces Short-Term Forecast! "In Just a Few Months…"
