Standard Chartered Bank analyst: Prediction that Bitcoin will exceed $500000 when Trump steps down still holds true

According to Golden Finance, Standard Chartered Bank analyst Geoff Kendrick previously stated that he expects Bitcoin prices to exceed $500000 when Donald Trump steps down. He stated in a report on Tuesday morning that the forecast remains valid, reviewing the weak price trend of BTC in the short term, supported by a series of recent 13F documents regarding institutional ownership of spot Bitcoin ETFs. Kendrick stated that the type of buyers has evolved from retail investors to hedge funds, and now to banks and sovereign wealth funds, and pointed out that institutions such as Goldman Sachs have increased their holdings in ETFs, and Abu Dhabi has also purchased Bitcoin ETFs for the first time. Analysts said, "Looking ahead, we expect more long-term long funds to purchase Bitcoin, and we expect Abu Dhabi's position to be the beginning of broader participation by sovereign states