Standard Chartered Predicts Bitcoin’s Skyrocketing Future: $200K This Year, $500K by 2028
If you’re a Bitcoin believer, you might want to buckle up, because according to Geoffrey Kendrick, the head of digital assets research at Standard Chartered, the cryptocurrency could be gearing up for a meteoric rise. Kendrick is forecasting Bitcoin’s price to hit $200,000 this year and potentially climb all the way to $500,000 before US President Donald Trump wraps up his second term.
While the markets have seen their fair share of turbulence, Kendrick believes that Bitcoin’s future is brighter than ever, thanks in part to a growing wave of institutional adoption and the possible emergence of clearer regulations. In an interview with CNBC on February 27, Kendrick outlined why he’s so bullish on BTC, even as the crypto markets have been subject to significant ups and downs.
Why the Bullish Outlook?
Kendrick’s optimism is based on several key factors. First, he points to the increasing interest from institutional players—think big names like BlackRock and Standard Chartered itself—that are starting to offer Bitcoin-related services. This institutional involvement brings much-needed legitimacy to the space, and with it, the potential for Bitcoin to become a more stable and secure asset class.
Additionally, Kendrick believes that clearer regulatory frameworks will provide further confidence to institutional investors. These institutions, by stepping in to offer more secure services like custody businesses, can help reduce the risks that have historically plagued the crypto market. This is especially important in light of high-profile hacks, like the recent $1.4 billion breach of crypto exchange Bybit.
“What we need are traditional financial players—like Standard Chartered, like BlackRock—to really step in,” Kendrick explained. “It’s institutions like ours that now offer custody businesses that are much more secure than the hacks.”
Bitcoin’s Wild Ride: A Reflection of Global Markets
Bitcoin has had a turbulent year so far, with its price bouncing all over the place. In January, the cryptocurrency hit an all-time high of over $109,000, only to see its value drop to around $80,000 as of early March. One of the biggest catalysts for this volatility? President Trump’s ongoing trade battles, particularly his threats of tariffs on China, Mexico, and Canada.
Bitcoin’s sharp reactions to these tariff threats suggest the digital asset is becoming more closely tied to traditional financial markets and liquidity conditions. Market commentator The Kobeissi Letter has noted that Bitcoin’s recent price fluctuations are part of a broader trend of market correlation between crypto and stocks.
Crypto’s Path Forward: Bullish on Liquidity, Bullish on Bitcoin
Despite the ups and downs, market experts are still largely bullish on Bitcoin in the long run. According to Global Macro Investor Julien Bittel, these pullbacks are “normal in bull markets”—especially after massive price surges, like the one Bitcoin experienced following the US presidential election.
In fact, the fundamentals behind Bitcoin’s long-term growth look promising. Jamie Coutts, chief crypto analyst at Real Vision, pointed out that two of his three core liquidity measures have turned bullish following Bitcoin’s recent sell-off. Expanding central bank balance sheets and a rising global money supply are typically favorable signals for Bitcoin. The last domino to fall? The US dollar.
A Bright Future for Bitcoin?
While Bitcoin’s volatility can be stomach-churning at times, it’s clear that many believe the digital asset is on the path to greater mainstream adoption. Standard Chartered’s optimistic forecast of $500,000 by the end of Trump’s second term is a bold prediction, but it’s not out of the realm of possibility.
As institutional players continue to step up, and as clearer regulations make the landscape more secure for investors, Bitcoin’s future may just be brighter than ever. Whether it’s the volatility of global markets or the evolution of the crypto space, one thing is certain: Bitcoin’s journey is far from over.
