Based in the UK, Standard Chartered bank remains deeply involved in the cryptocurrency sphere, consistently updating its guidance on short, medium, and long-range projections. The institution recently adjusted its targets, releasing refined future expectations that have piqued the curiosity of cryptocurrency enthusiasts and investors alike.
What Are the New Bitcoin Targets?
In response to market dynamics, Standard Chartered recalibrated its short-term expectations for Bitcoin. Earlier, the bank had set a target for Bitcoin to reach $200,000 by the end of 2025. However, this figure has been reassessed to $100,000, reflecting a more cautious approach to its forecasts.
Geoffrey Kendrick, Global Head of Digital Asset Research at the bank, admitted that prior assumptions were not on the mark. Despite these revisions, the institution remains confident in its long-term projection of $500,000 for Bitcoin.
Will Cryptocurrency Trends Influence Future Predictions?
Yes, according to Standard Chartered, the landscape has evolved considerably. The bank had anticipated a $200,000 Bitcoin valuation this year, driven by ETF absorption, corporate crypto treasury needs, and various political shifts. However, the expected dynamics did not materialize as planned, leading to a restructuring of their strategy.
“With the start of ETF purchases, the BTC halving cycle is no longer a relevant price factor. Long-term ETF buyers are a much more significant price factor.”
Kendrick believes the recent decline in Bitcoin’s price is a transient fluctuation rather than a long-term decline, underscoring the significance of ETF flows in the current market environment.
Concrete revisions:
- End of 2025: Now $100,000.
- 2026: $150,000.
- 2027: $225,000.
- 2028: $300,000.
- 2029: $400,000.
- 2030: $500,000 remains unchanged.
These updates suggest a deferment of previously anticipated milestones, reflecting a more tempered outlook.
