Standard Chartered: "Bitcoin Expected to Reach $135,000 in Q3 This Year"

An analysis has emerged suggesting that Bitcoin (BTC) could climb to $135,000 in the third quarter of this year. Additionally, it is forecasted to reach $200,000 by the end of the year.

According to Cointelegraph on the 2nd (local time), Standard Chartered (SC) stated in a report, "The number of companies accumulating Bitcoin is increasing, and strong inflows into spot ETFs continue," adding, "Bitcoin is expected to reach $135,000 by the end of Q3 this year, surpassing its all-time high." The report further noted, "It could even exceed $200,000 by year-end."

SC particularly assessed that Bitcoin's halving cycle has become irrelevant. The report said, "Bitcoin has now broken the pattern of declining within 18 months after each halving," and "this is due to strong buying momentum from companies and spot ETFs supporting the price increase." It continued, "This is a phenomenon not seen in previous halvings. If the usual pattern held, a dip around September this year would have been expected."

However, it was noted that short-term corrections are possible. The report stated, "Some volatility may occur between the end of Q3 and early Q4," explaining, "this is because concerns over a traditional halving correction pattern could trigger selling."

Meanwhile, Standard Chartered maintained its long-term outlook that Bitcoin could reach $500,000 by 2028.