Standard Chartered: Three reasons may lead BTC to a new round of growth and a new high this quarter

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Cointime2025/04/29 09:34

By:Cointime

Standard Chartered Bank analyst Geoff Kendrick once again pointed out that despite the downward trend of Bitcoin earlier this year, there are three reasons that will drive Bitcoin to a new round of upward trend this quarter and set a new historical high:

1. Economic turmoil enhances the attractiveness of Bitcoin, and the transfer of funds between safe-haven assets has already begun, with funds flowing from gold ETFs to Bitcoin ETFs, meaning that investors are starting to see Bitcoin as a better safe-haven asset than gold.

2. Purchase behavior triggered by tariffs, data shows that "Bitcoin whales" (investors holding more than 1000 bitcoins) have been accumulating bitcoins during the price decline triggered by tariffs.

3. More catalysts are forming, such as an increase in purchases by pension funds and sovereign wealth funds. Trump has previously emphasized the possible introduction of stablecoin legislation this summer.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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