Odaily News Standard Chartered Bank's Head of Digital Asset Research, Geoffrey Kendrick, stated that if the independence of The Federal Reserve (FED) is continuously threatened, Bitcoin may experience further pump. The current market is concerned that FED Chairman Powell may be replaced, which has pushed the 10-year U.S. Treasury yield premium to a new 12-year high, while Bitcoin's response remains lagging.
Kendrick pointed out that Bitcoin plays a core role in the portfolio as a hedge against risks in the traditional financial system, including bank failures or policy interventions. Historical data shows that since 2024, the correlation between Bitcoin and the yield premium of US Treasury bonds has strengthened, and he believes that Bitcoin is expected to catch up with the recent rise.
He reiterated that the target price for Bitcoin by the end of the year is $200,000, with a target of $500,000 by 2028. In addition, he expects the total market value of stablecoins to increase to $2 trillion before 2028, and is optimistic about AVAX rising to $250 and XRP rising to $12.5. (The Block)
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Standard Chartered: If the risk to the independence of The Federal Reserve (FED) continues, Bitcoin may continue to pump.
Odaily News Standard Chartered Bank's Head of Digital Asset Research, Geoffrey Kendrick, stated that if the independence of The Federal Reserve (FED) is continuously threatened, Bitcoin may experience further pump. The current market is concerned that FED Chairman Powell may be replaced, which has pushed the 10-year U.S. Treasury yield premium to a new 12-year high, while Bitcoin's response remains lagging. Kendrick pointed out that Bitcoin plays a core role in the portfolio as a hedge against risks in the traditional financial system, including bank failures or policy interventions. Historical data shows that since 2024, the correlation between Bitcoin and the yield premium of US Treasury bonds has strengthened, and he believes that Bitcoin is expected to catch up with the recent rise. He reiterated that the target price for Bitcoin by the end of the year is $200,000, with a target of $500,000 by 2028. In addition, he expects the total market value of stablecoins to increase to $2 trillion before 2028, and is optimistic about AVAX rising to $250 and XRP rising to $12.5. (The Block)