Standard Chartered Predicts Bitcoin at $500,000 Before Trump's Presidency, $200,000 This Year

Standard Chartered Bank, valued at $1 trillion, has forecasted that Bitcoin could reach $500,000 before the end of Donald Trump's presidency. Geoffrey Kendrick, the bank's head of digital assets research, also predicts Bitcoin will hit $200,000 by the end of this year.

Kendrick attributes this projection to increased institutional adoption, regulatory clarity, and stabilization in cryptocurrency prices. He highlights the role of traditional financial players, such as Standard Chartered and BlackRock, in driving Bitcoin's growth. He also noted the importance of Trump's executive order promoting cryptocurrency development in the U.S.

Bitcoin recently fell to a three-month low of $90,000, down from its all-time high of $108,786 in January. The decline was partly attributed to broader uncertainty in global markets and a $1.5 billion hack at cryptocurrency exchange Bybit. Despite this, Kendrick expects the market to recover as regulatory developments and institutional involvement strengthen the crypto ecosystem.

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