Bitcoin’s Resilience Amidst Challenges: Standard Chartered Eyes $150,000 Target by Year-End

Standard Chartered Eyes $150,000 Target by Year-End

Despite recent market setbacks, Bitcoin’s trajectory remains promising with potential significant gains by the end of the year, as predicted by Standard Chartered’s head of digital assets research, Geoff Kendrick.

Geoff Kendrick, a prominent voice in digital assets at Standard Chartered, has reasserted a confident stance on Bitcoin’s financial prospects, forecasting a price target of $150,000 by the end of this year. This ambitious target represents a 127% increase from current levels. Kendrick’s bullish outlook is underpinned by a favourable setup in the crypto market, which he believes could propel Bitcoin to new heights.


Bitcoin has recently experienced an 11% decrease from its all-time high of approximately $73,000 recorded in March. Kendrick attributes this decline to a combination of reduced inflows into Bitcoin ETFs and rising geopolitical tensions in the Middle East, which have momentarily dampened market sentiment. Despite these challenges, Kendrick remains optimistic, suggesting these temporary setbacks will reverse as market conditions evolve.

The Role of Bitcoin ETFs and Market Maturity

Since approving spot Bitcoin ETFs in January, the market has absorbed about $12 billion in investments. Kendrick projects that as the U.S. ETF market matures, it could attract an additional $50 billion to $100 billion in inflows over the next two years. The growth of the ETF market is seen as a critical driver for Bitcoin’s price, providing a structured pathway for substantial capital injections into the cryptocurrency.

Another key factor in Kendrick’s analysis is the cyclical nature of Bitcoin’s halving events. These events, which halve the rewards for Bitcoin mining, effectively reduce the new supply of Bitcoin and have historically been followed by significant price increases. The most recent halving event is expected to continue this trend, contributing to the bullish forecast.

Looking beyond 2024, Standard Chartered’s analysis is not just limited to the immediate future. Kendrick and his team also envision Bitcoin reaching as high as $250,000 by 2025, marking a potential 266% increase from its March levels. This long-term optimism reflects a broader belief in Bitcoin’s enduring value and its role in the evolving landscape of financial markets.

With over 4 years of experience in the crypto field, Richard brings simple yet insightful analysis to the table. As a keen observer of market trends and a strong believer in blockchain’s potential, he aims to make the complex world of digital currency easy to understand for all.
Recent Articles

How to Get Your First Job in Crypto