Standard Chartered, a major international bank, predicts rapid growth in Bitcoin's value over the next few years. According to their forecast, the cryptocurrency's price could reach $500,000 by 2028.
Standard Chartered's Prediction
Standard Chartered predicts that Bitcoin's price will reach $200,000 in 2025, then rise to $300,000 in 2026, $400,000 in 2027, and finally $500,000 in 2028.
Factors Driving Bitcoin's Growth
The primary factor contributing to the price increase, according to the bank, is a more favorable regulatory environment and increased access to Bitcoin through the introduction of ETFs in the US market in January 2024.
Long-term Market Outlook
If the forecast of $500,000 is reached, Bitcoin's market capitalization would be around $10.5 trillion, surpassing Apple and Microsoft and reaching approximately half of gold's $19.4 trillion market cap.
These optimistic projections reflect Standard Chartered's confidence in Bitcoin's future, based on regulatory changes and increased cryptocurrency accessibility for investors.
