Standard Chartered Bank, which has long been bullish on Bitcoin and other cryptocurrency assets (Standard Chartered) predicted on Monday that the price of Bitcoin ( BTC-USD) may break through the $120,000 mark in the second quarter to hit a record high. The bullish sentiment in the currency circle has heated up. The core logic of Standard Chartered's continued bull market in bitcoin is the sharp deterioration in confidence in US dollar asset holdings, the widespread reallocation of global funds from dollar-denominated assets to other currency assets, and a number of technical indicators sending bullish signals for bitcoin.

It is worth noting that Standard Chartered Bank has accurately predicted the unprecedented bull run curve of Bitcoin in 2024. The institution long bet last year that the price of Bitcoin would break through the super milestone of 100,000 USD by the end of 2024, and Bitcoin ultimately surpassed 100,000 USD in December, setting a historical peak.
Standard Chartered's bullish target has a potential upside of about 25% compared to the current Bitcoin price. Standard Chartered also expects that by the end of 2025, the Bitcoin price will soar to the historical level of $200,000, which means that by the end of this year, the Bitcoin price is expected to rise by about 65% compared to the second quarter target, and will be a full 110% higher than the current level.