Bitcoin on track to hit $150,000 by year-end and $200,000 by end of 2025: Standard Chartered

Despite widespread warning from analysts predicting a post-halving stoop, Geoff Kendrick, head of digital belongings analysis at Standard Chartered, is doubling down on his optimistic outlook, saying Bitcoin might attain $150,000 by year-end and $200,000 by the end of 2025.

Before the US Securities and Exchange Commission greenlit a number of spot Bitcoin ETFs, Standard Chartered boldly predicted a fourfold surge in Bitcoin’s value by year-end. Kendrick reaffirmed this bullish forecast in a current interview with Bloomberg BNN.

Explaining the explanations behind the notable carry, the analyst pointed to the expansion of the US ETF market. According to him, flows into the spot Bitcoin ETFs might improve from the present $12 billion to between $50 billion and $100 billion.

His projections are partly based mostly on the historic progress of the gold market following the introduction of gold ETFs within the US in 2004. When the gold ETF market matured, the value of gold elevated roughly 4.3 occasions. Kendrick famous {that a} comparable trajectory might occur with Bitcoin if the crypto ETF market matures in a comparable means, probably inside an 18-24-month timeframe.

The analyst expects that over time, as Bitcoin turns into a extra accepted and accessible funding, demand for Bitcoin will improve, probably pushing the value to his focused vary.

He urged that buyers finally allocate 80% of their portfolios to gold and 20% to Bitcoin. If gold costs go sideways, this portfolio distribution might propel Bitcoin to $150,000-$200,000.

“In terms of portfolio between Bitcoin and gold, you should get to about 80% gold, 20% Bitcoin, and for that, even if gold prices were to go sideways again, that gets you to the $150,000 – $200,000 mark in terms of Bitcoin,” mentioned Kendrick.

Kendrick additionally believes that substantial institutional funding couldn’t solely elevate Bitcoin’s value but additionally stabilize it, lowering the probability of sharp retractions seen in previous cycles.

“Medium term, if we get to $200,000 because of institutional flows as well, it’s much more likely that Bitcoin won’t have a large retracement, which it did have in previous cycles,” added Kendrick.

Despite stagnating after the fourth halving, probably due to gradual ETF inflows and the Middle East battle, Bitcoin’s value continues to be up over 55% year-to-date. It is at the moment buying and selling at round $66,000, up 5% within the final week, in accordance to CoinGecko’s information.