Bitcoin Headed for 'Best Ever' Second Half of the Year: Standard Chartered
Bitcoin is poised for a potentially record-breaking second half of the year, driven by strong institutional interest and treasury buying, according to Standard Chartered's Geoff Kendrick. Bitcoin recently surpassed $109,000, with expectations that acquisitions in Q3 and Q4 will exceed the 245,000 BTC bought in Q2. Kendrick predicts new all-time highs above the previous peak of $111,814, noting a departure from the typical price declines following halving events. However, he warns of potential price volatility in late Q3 and early Q4 due to concerns about repeating past patterns. Bitcoin treasury companies and ETFs are contributing to this bullish outlook, with 141 publicly traded companies holding 849,400 BTC valued over $92 billion. Strategy, a pioneer in Bitcoin treasury strategy, has accumulated over 597,000 BTC worth approximately $65 billion. Despite external economic pressures, crypto markets remain resilient.
