Standard Chartered Bank Reiterates Bullish Bitcoin Price Target of $200,000, Concerns About Federal Reserve Independence to Fuel Upside

BlockBeats News, April 22, Standard Chartered Bank analyst Jeff Kendrick stated that if concerns about the Federal Reserve's independence persist, Bitcoin may rise to a new all-time high. Due to its decentralized ledger, cryptocurrency serves as a hedge against risks in the existing financial system. The risk in U.S. Treasuries was highlighted when President Trump hinted at removing Federal Reserve Chairman Powell due to his desire for rate cuts. The premium on yields of long-dated Treasuries over short-dated ones surged, benefiting Bitcoin. Bitcoin rose to a six-week high of $90,459. Standard Chartered Bank still predicts that by the end of 2025, Bitcoin's price will rise to $200,000. (FX678)