Standard Chartered insists on bullish Bitcoin: The situation in the Middle East has triggered a recent pullback, but it will pump double by the end of the year

After Bitcoin completed its quadrennial "Halving" last Saturday, Beijing time, Xiaomo warned that Bitcoin may fall after the "Halving". However, Jeff Kendrick, head of digital asset research at Standard Chartered Bank, reiterated in a recent interview that his price target for Bitcoin at the end of this year is $150,000, which means that Bitcoin will more than pump from its all-time high in March by the end of this year. Kendrick said the Bitcoin's fall in recent weeks was mainly due to a slowdown in ETF inflows, as well as tensions in the Middle East, which he said had recently "dominated" the encryption market. But looking ahead, he believes that the Crypto Assets market could reverse its falls and continue to pump later this year as large-scale Bitcoin ETF funds continue to flow in. Kendrick estimates that U.S. Spot Bitcoin ETF has absorbed about $12 billion since it was approved in January. He predicts that although the "crypto world" sentiment is currently on the cautious side, once the US Crypto Assets ETF market becomes more "mature", inflows could reach $50 billion to $100 billion over the next two years.