Strategic allocation Away from US assets of investors could see Bitcoin hit a new highlight all the time in the second quarter of the year, Standard Chartered’s Geoff Kendrick said in a report Monday.

Kendrick sees the world’s largest cryptocurrency as reaching $ 120,000 in this quarter when he repeated his previous target of $ 200,000 by the end of 2025.

Bitcoin traded around $ 95,300 at the time of announcement.

Kendrick noted that the US Treasury Award, which is closely correlated with the Bitcoin award, is at a 12-year height. Accumulation of whales has also been strong. In addition, Bitcoin-time analysis suggests that US investors may be looking for non-American assets, he said.

Finally, the Exchange-Traded Fund (ETF) suggests flow in the last week “Safe-Haven Outdoor from Gold to BTC,” Kendrick wrote.

“Bitcoin can be a better hedge than gold against the financial system risk,” he added.

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