Key Drivers of Bitcoin’s Rally
- ETF Inflows: The surge in investment into Bitcoin ETFs in the US has been a major catalyst for price growth. Kendrick estimates that $50-$100 billion could flow into these ETFs as the market matures.
- Bitcoin Halving: The upcoming halving event, which reduces the number of new Bitcoins mined, will limit supply and potentially boost prices.
Defending Bitcoin’s Value
Kendrick dismissed skepticism about Bitcoin, arguing that its underlying blockchain technology holds significant value. He believes that Bitcoin’s dominance in the crypto market opens up opportunities for other blockchain applications in various industries.
Market Volatility and Outlook
Despite recent market volatility, Kendrick remains bullish on Bitcoin’s future. He sees the recent sell-off as a correction that could lead to a healthier rally post-halving.
Long-Term Projections
Kendrick predicts that Bitcoin could reach $200,000 by the end of 2025. He believes that the ETF market’s growth and ongoing technological advancements will continue to drive its price higher.
