28-2-2025 – Despite Bitcoin plummeting to a three-month nadir and shedding nearly a fifth of its value since January’s zenith, Standard Chartered Bank remains remarkably bullish on the cryptocurrency’s prospects. The banking giant’s head of digital assets research, Geoffrey Kendrick, has put forth an audacious forecast, suggesting Bitcoin could soar to an eye-watering $500,000 before Donald Trump completes his presidential term.
Amidst considerable market turbulence that has seen the world’s premier cryptocurrency dip below the $82,000 mark, Kendrick maintains a steadfast conviction that institutional adoption and regulatory clarity will propel Bitcoin to extraordinary heights. The Standard Chartered executive envisions Bitcoin reaching $200,000 as early as year’s end—a prediction that stands in stark contrast to the current market sentiment.
“The integration of traditional financial powerhouses into the cryptocurrency ecosystem will prove transformative,” Kendrick remarked during a CNBC television appearance. He emphasised that established institutions like Standard Chartered and BlackRock, which manage exchange-traded funds, are pivotal to the sector’s evolution and maturation.
The cryptocurrency market’s recent downturn has coincided with global equity market declines, with Bitcoin trading at approximately $82,256 on Thursday. This represents a substantial correction from its January peak. Market analysts attribute this volatility partly to geopolitical uncertainties surrounding international conflicts and trade policies.
Glassnode’s analysis reveals that Bitcoin’s Short-Term Holder Spent Output Profit Ratio hovers precariously near the critical breakeven threshold of 1.0, oscillating between 0.98 and 1.04. Historically, surpassing this benchmark has heralded bullish momentum, whilst falling beneath it has triggered selling cascades.
Despite these challenging market conditions, Global Macro Investor Julien Bittel characterises the recent price correction as “perfectly normal behaviour in bull markets,” particularly following the remarkable surge that accompanied the US presidential election results.
Kendrick contends that as cryptocurrency adoption by institutional players accelerates and regulatory frameworks in the United States become more defined, market volatility should gradually subside. He further suggests that increased institutional participation will enhance market safety and potentially reduce negative incidents, referencing the recent $1.5 billion security breach at cryptocurrency exchange Bybit.
For astute investors, the current dip may represent an opportune moment for accumulation. Market observers note that substantial buying interest from institutional investors and high-net-worth individuals could catalyse a robust recovery, potentially igniting another bullish phase in the weeks ahead.
