Standard Chartered remains optimistic about Bitcoin's future despite recent downturns and market volatility.
Future Predictions for Bitcoin
Despite recent challenges, Standard Chartered forecasts a significant rise in Bitcoin's price. Geoffrey Kendrick, head of digital assets research at the bank, stated that Bitcoin's price could reach $500,000 by the end of Donald Trump's presidency. He also predicted that the price might rise to $200,000 by the end of 2025, considering the increased institutional interest and potential regulatory improvements.
Current Situation in the Crypto Market
The recent high volatility of assets is associated with the new US president's term and complex geopolitical conditions. Meanwhile, the involvement of financial giants like Standard Chartered and BlackRock increases trust in cryptocurrencies. Kendrick highlights that market institutionalization could make it more stable and less susceptible to negative headlines.
Reasons for Decline and Prospects
The Bitcoin market has recently seen a drop to a three-month low due to global market uncertainties. However, Glassnode analysts suggest indicators such as STH-SOPR may herald future growth. Analysts expect the current market correction to be an opportunity for large players and institutional investors to build positions before a new rally.
Despite current fluctuations, forecasts remain optimistic thanks to institutional participation and potential regulatory improvements.
