“Sell gold, buy Bitcoin,” Standard Chartered’s Head Says Rotation May Return
The post “Sell gold, buy Bitcoin,” Standard Chartered’s Head Says Rotation May Return appeared first on Coinpedia Fintech News
Standard Chartered’s head of digital assets research warns that a new trend is emerging: “sell gold, buy Bitcoin.” Last week, gold prices plunged nearly 6%, while Bitcoin bounced back above $110,000, signaling a growing capital rotation into crypto.
Kendrick believes this shift could propel Bitcoin toward $135,000 by the end of the year.
Kendrick: Sell Gold Buy Bitcoin
Gold has always been seen as the go-to safe haven during times of economic stress and inflation. But according to Kendrick, the “gold-to-Bitcoin flow” has always been an important signal for investors to decide the flow rotation.
Kendrick told clients that last week’s market moves, including a sharp 6% drop in gold prices, coincided with a bounce in Bitcoin, which he views as a clear sign of capital rotating from gold to crypto.
Therefore, Kendrick suggests that amid tighter monetary policies and changing investor preferences, the trend to “sell gold, buy Bitcoin” may gain momentum, positioning Bitcoin as a new digital haven.
Opportunistic Buying Below $100K
While Kendrick forecasts a near-term “inevitable” dip of Bitcoin below the psychologically important $100,000 mark, he views this as a temporary correction and a “final buying opportunity.”
Despite recent market swings caused by U.S.-China trade tensions , he remains optimistic. Standard Chartered still holds bold Bitcoin targets of $135,000 to $200,000 by year-end , supported by factors like easier monetary policy, strong ETF inflows, and money shifting away from traditional safe assets like gold.
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Bitcoin Waiting To Explode, $120K
Crypto analyst Michael van de Poppe says Bitcoin is currently moving sideways, showing uncertainty as traders wait for important updates like the U.S. Consumer Price Index (CPI) report and the upcoming Federal Reserve (Fed) meeting. These events could influence interest rates and monetary policy, which in turn may decide Bitcoin’s next price direction.
Van de Poppe points out that even at $110,000, Bitcoin is not too expensive compared to 2021, when it reached $69,000 while interest rates were almost zero.
He highlighted $112,000 as a key level to watch, if Bitcoin rises above this price, it could trigger a rally towards $120K.
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FAQs
It’s a growing strategy where investors shift funds from gold into Bitcoin, viewing the digital asset as a new safe haven, especially after recent gold price drops and Bitcoin surges.
Analysts from firms like Standard Chartered predict Bitcoin could reach $135,000 to $200,000 by year-end, driven by ETF inflows and a rotation from traditional assets.
Some analysts suggest Bitcoin is gaining an edge as a digital safe haven, with capital actively rotating from gold to crypto amid changing monetary policies and investor preferences.
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