Standard Chartered: Three Reasons BTC May Be in a New Rally and Hit New Highs This Quarter
Standard Chartered analyst Geoff Kendrick has reiterated that despite Bitcoin's decline at the beginning of this year, three major reasons will drive Bitcoin into a new rally this quarter and reach new historical highs: 1. Economic turmoil increases Bitcoin's appeal, with the shift of funds among safe-haven assets already underway. Funds are moving from gold ETFs to Bitcoin ETFs, indicating that investors are starting to view Bitcoin as a better safe-haven asset than gold. 2. Buying behaviors triggered by tariffs show that "Bitcoin whales" (investors holding more than 1,000 bitcoins) have been accumulating Bitcoin during price drops caused by tariffs. 3. More catalysts are forming, such as the increased purchase by pension funds and sovereign wealth funds. Previously, Trump has highlighted that stablecoin legislation may be introduced this summer.
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