Geoffrey Kendrick, head of global digital asset research at Standard Chartered Bank, said in his latest report that Bitcoin is expected to reach a new all-time high of about $120,000 in the second quarter of 2025 and maintain its target price of $200,000 at The end of 2025. Kendrick believes that now is the time to buy bitcoin, and several indicators support the price increase, including the trend of US investors seeking non-US assets, the continued accumulation of "whale" investors, and the safe haven transfer of ETF funds from gold to bitcoin. He stressed that Bitcoin, because of its decentralized nature, is a more effective hedge against the risks of the existing financial system than gold.