Standard Chartered Ups Q2 Bitcoin Price Prediction, Calls $120,00 “Too Low”

In an email to clients on Thursday, Kendrick acknowledged that his earlier projection was likely too conservative given recent developments in the crypto space. He now sees $120K as a very achievable short-term target, with $200,000 still firmly in sight by year-end.

What’s Fueling the Shift?

Kendrick’s updated stance comes on the back of favorable macroeconomic and market conditions, including:

Strategic capital reallocation away from traditional U.S. assets Robust whale accumulation, signaling long-term conviction Increased institutional inflows into Bitcoin-related products Improving regulatory clarity, particularly in major jurisdictions

These elements, he said, are combining to amplify Bitcoin’s upward trajectory well ahead of schedule.

Earlier Forecast Now a Stepping Stone

In his April report, Kendrick had positioned $120K as Bitcoin’s likely Q2 peak, driven by a wave of ETF inflows and growing institutional participation. Now, with BTC already pushing past key resistance levels and market sentiment strengthening, Kendrick believes higher price targets are coming into play much sooner than expected.

“My earlier price call now looks very achievable,” he wrote in Thursday’s client note.

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