Standard Chartered's Geoff Kendrick Predicts Bitcoin to Hit New All-Time High This Week
CryptoNewsTerminal Staff22 May, 2024
Standard Chartered's Geoff Kendrick Predicts Bitcoin to Hit New All-Time High This Week
Standard Chartered's head of digital asset research, Geoff Kendrick, told The Block that "Bitcoin is likely to break above $73,798 and will hit a new all-time high by the end of this week." Kendrick cited several factors for his bullish outlook, including the increasing adoption of Bitcoin by institutional investors and the growing use of the cryptocurrency for payments. "We are seeing more and more institutional investors adding Bitcoin to their portfolios," Kendrick said. "This is a major trend that is likely to continue in the coming months and years." Kendrick also pointed to the growing use of Bitcoin for payments as another factor that is driving up the price of the cryptocurrency. "More and more businesses are accepting Bitcoin as a form of payment," Kendrick said. "This is making it easier for people to use Bitcoin in their everyday lives, which is increasing the demand for the cryptocurrency."
