Standard Chartered Bank Still Insists Bitcoin Will Reach $200,000 This Year Despite Recent Market Drop

Odaily Planet Daily News Earlier this week, Bitcoin fell to a three-month low of below $90,000 as global stock markets fell. However, Geoffrey Kendrick, head of digital asset research at Standard Chartered Bank, still insisted that Bitcoin will reach or even break the $200,000 mark this year, and will further climb to $500,000 in the next few years. Geoffrey Kendrick said: "As the crypto industry becomes more institutionalized, it should be safer." He added that there will be less negative news in the crypto market, such as the recent $1.5 billion hacker attack on the cryptocurrency exchange Bybit. (CNBC)