Standard Chartered Predicts Bitcoin Could Reach $500,000 by 2028
Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, predicts Bitcoin's price could reach $500,000 by the end of 2028, driven by two main factors.
Factors Propelling BTC Price
- Improved investor access through the approval of spot Bitcoin ETFs in January 2024.
- Decreasing volatility due to an increasing market capitalization, making price manipulation harder.
Kendrick forecasts the following price milestones:
- $200,000 by the end of 2025
- $300,000 by the end of 2026
- $400,000 by the end of 2027
- $500,000 by the end of 2028
As of February 5, BTC trades at $98,486, having risen from approximately $94,000 since January 1. Despite recent volatility, with a drop to $91,000 due to US trade tariff concerns, long-term bullish sentiment remains strong among analysts. Notable predictions include:
- Alex Becker's assertion that a $150,000 target is conservative.
- A report by CryptoQuant suggesting a range of $145,000 to $249,000 under a Trump administration.
Additionally, Bitcoin 'whales' are accumulating, indicating confidence in future growth.
