Standard Chartered Bank Forecast: Bitcoin to hit 200,000 dollars this year

Geoffrey Kendrick, head of digital asset research at banking giant Standard Chartered, offered his thoughts on Bitcoin recent price decline in an interview with CNBC and made a bold prediction for its future.

Despite short-term volatility, Kendrick expects Bitcoin to reach $200,000 this year and $500,000 by the end of Trump presidency.

He cited the impact of political developments on investor sentiment and said the Trump administration will have a positive impact on Bitcoin in the medium term.

Kendrick also noted the outflow of about $3 billion from Bitcoin spot ETFs since Trump’s inauguration.

He emphasized that deeper institutional participation and regulatory transparency, particularly around stablecoins and identity verification rules, could bring a wave of institutional and even sovereign capital inflows.