With the cryptocurrency market thriving since November of last year, there are high hopes for its potential. Among the most bullish on the asset class is Standard Chartered Bank, which projects that Bitcoin (BTC) can reach $500,000 before US President Donald Trump leaves office.
Indeed, the $870 billion asset manager has said that the leading crypto could surge before 2028 comes to a close. Specifically, analyst Geoffrey Kendrick has noted that improved access and limited volatility could propel the token to a monumental record price.
JUST IN: $870 billion asset manager Standard Chartered Bank says Bitcoin could reach $500,000 before President Trump leaves office.
— Watcher.Guru (@WatcherGuru) February 5, 2025
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Standard Chartered Expects Bitcoin to Hit $500k Before 2028
The start of the year has been notably up and down for the cryptocurrency market. Bitcoin has struggled to maintain a position above the $100,000 mark despite growing favorable regulation in the United States. However, that has not stopped experts from being increasingly bullish on its price.
ARK Invest has recently predicted the leading crypto to reach a $1.5 million price. They are certainly not alone. $870 billion asset manager Standard Chartered Bank has said that Bitcoin can hit a $500,000 price before US President Donald Trump leaves office in 2028.
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Specifically, analyst Geoffrey Kendrick noted both access and lessened volatility will be the driving factors. “Access is improving under the Trump administration,” Kendrick told The Block. “Institutional inflows will continue to gather pace. And [volatility] will gradually come lower as the quality of flows improves and other infrastructures (e.g., options markets) expand.”
In a Wednesday research note, Kendrick noted that Spot Bitcoin ETFs have been monumental in increasing access. The investment vehicle has already brought in $39 billion in net inflows. As that market continues to mature, they note it could be critical to its growth. Additionally, Kendrick expects even more pro-crypto legislation from the pro-crypto president. That will only set it up to continue gaining into his second term.
