Bitcoin Price Forecast: Standard Chartered Analyst Predicts $500K Target Amid Market Dip

Standard Chartered’s top crypto analyst, Geoffrey Kendrick, remains bullish on Bitcoin despite its recent downturn. He predicts Bitcoin could reach $500,000 before the end of Donald Trump’s presidency, with a $200,000 target for this year.

Speaking to CNBC, Kendrick emphasized increasing institutional adoption and regulatory clarity as key drivers for Bitcoin’s growth. He highlighted the role of financial giants like Standard Chartered and BlackRock in stabilizing the market through ETF participation.

As institutional involvement grows, Kendrick expects reduced volatility and fewer negative headlines, referencing last week’s $1.5 billion Bybit hack. He believes regulatory advancements in stablecoins and anti-money laundering will further legitimize the sector, encouraging US banks and larger financial institutions to engage.

Bitcoin recently fell to a three-month low, trading around $86,000—down 20% from its record high of $108,786 in January. Kendrick attributes this decline to geopolitical uncertainties, tariffs, and weakening risk appetite in equity markets. He also noted that negative sentiment from the Bybit breach contributed to the dip.

Despite the setback, Kendrick remains optimistic, forecasting improved market conditions as institutional investors gain confidence in the regulatory landscape.