Bitcoin is predicted to reach exciting new heights in the coming years, with Geoffrey Kendrick, the Head of Digital Asset Research at Standard Chartered, forecasting a possible surge to $500,000 by 2028. Kendrick also anticipates a significant rise to $200,000 by the end of 2025, showcasing a bullish outlook that surpasses current trading levels.
In a recent investor note titled "Bitcoin—Pathway to the USD 500,000 Level," Kendrick outlined the key factors influencing Bitcoin's price trajectory. These factors include the increasing institutional access and the declining market volatility that are propelling Bitcoin towards greater heights.
Kendrick highlighted the approval of US spot Bitcoin exchange-traded funds (ETFs) as a major catalyst for enhanced investor access. He foresees this trend accelerating under the administration of Donald Trump, with ETFs attracting significant inflows and unleashing pent-up demand.
Moreover, as the ETF market matures, Kendrick expects Bitcoin's volatility to decrease, paving the way for more stable market conditions that could attract institutional investors. This increased adoption could lead to a substantial price appreciation over the long term, positioning Bitcoin as a valuable asset in investment portfolios.
With these positive developments in mind, Kendrick speculates that Bitcoin could potentially reach the impressive $500,000 milestone before the end of Trump's tenure, driven by improved investor access and reduced volatility.
The optimistic forecast by Standard Chartered has garnered attention, with Bloomberg's senior ETF analyst Eric Balchunas and crypto investor Thomas Kralow acknowledging the ambitious yet plausible nature of the predictions.
Looking ahead, Kendrick envisions a gradual ascent for Bitcoin, with price projections of $200,000 by 2025, $300,000 by 2026, $400,000 by 2027, and potentially hitting $500,000 by 2028, where it could stabilize for the subsequent year.
Standard Chartered's optimistic outlook is shared by CryptoRank, which anticipates new all-time highs for Bitcoin in 2025 and foresees central banks adopting Bitcoin as a reserve currency, bolstering its long-term value. While regulatory policies in the US could impact Bitcoin's growth trajectory, a favorable stance towards Bitcoin could lead to further price appreciation, while regulatory challenges may trigger market corrections.
As Bitcoin continues to capture the attention of investors and enthusiasts alike, the future appears promising for the pioneering cryptocurrency on its journey to potentially reach unprecedented price levels.