Bitcoin at $500,000: Standard Chartered’s Bold Forecast
Standard Chartered has issued a highly optimistic forecast, suggesting that Bitcoin could soar to $500,000 by 2028. However, analysts caution against taking such projections at face value and advise investors not to rely solely on them for financial decisions.
According to Geoffrey Kendrick, the bank's global head of digital assets research, this bullish outlook is driven by increasing investor access and gradually declining market volatility.
Bitcoin received a significant boost following the launch of U.S. spot Bitcoin ETFs in January 2024, which have since attracted over $39 billion in net inflows.
The bank’s forecast outlines a gradual Bitcoin’s price surge over the next few years: $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by 2028, with the potential to maintain this level through the end of 2029.
Related:Bitcoin’s Meteoric Rise to $100K: What Investors Need to Know Now
According to Kendrick, Bitcoin’s declining volatility will be driven by the development of financial infrastructure, particularly the expansion of the options market and the increasing presence of institutional counterparties.
Regulatory changes are also expected to be a positive catalyst. A key development is the repeal of SAB 121, which previously required digital assets to be recorded as liabilities. This shift simplifies accounting and operational processes for companies dealing with cryptocurrencies.
Additionally, the Trump administration announced plans to assess the creation of a national digital asset reserve. If implemented, this initiative could encourage other central banks to consider Bitcoin as a legitimate investment asset.
Related:A U.S. Bitcoin Reserve? Trump’s Crypto Czar Says It’s on the Table
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