Jeffrey Kendrick, head of the digital assets research department at Standard Chartered, said that Bitcoin could reach a price of $100,000 by the end of the year. In his view, the main driver of growth will be the increase in the volume of available liquidity in the US government bond market. The banking analyst is confident that a break above the current Bitcoin price of $65,500 could confirm that the low of the current cycle has already been reached. In a conversation with Cointelegraph, Kendrick suggested that investors should prepare for the asset to reach one hundred thousand dollars.

The head of the Digital Assets department drew attention to the decision of the United States Department of the Treasury to increase the purchase of long-term government bonds. The maximum volume of transactions with securities with maturities from ten to twenty years and from twenty to thirty years, according to the analyst, will grow from two billion dollars to at least four billion. The Standard Chartered expert stated that the Treasury's announcement is exactly the factor that has a positive effect on bitcoin. According to him, such measures of state support for liquidity usually have a positive impact on cryptocurrency, and its limited supply protects the asset from depreciation.

The further dynamics of the price of the first cryptocurrency will depend not only on internal market cycles but also on the decisions of the US authorities, which affect the availability of capital. Earlier, Katie Stockton, the founder and managing partner of the US investment company Fairlead Strategies, stated that Bitcoin’s prolonged decline had reached a point of exhaustion, and the pressure from sellers was gradually beginning to ease.

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The material has been prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.