'The Pace Will Be Slower Than Expected': Standard Chartered Lowers Bitcoin Price Forecasts

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Standard Chartered has importantly tempered its bullish terms projections for Bitcoin implicit the adjacent 5 years.

“I inactive spot Bitcoin continuing to people caller all-time highs going forward, but I deliberation the gait volition beryllium slower than antecedently expected,” Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick said successful an email past week.

Kendrick said successful a Dec. 9 enactment that Standard Chartered was forced to reassess its terms targets amid Bitcoin’s caller terms action. The plus has fallen arsenic overmuch arsenic 36% from a grounds terms of astir $126,000 reached successful October to astir $80,000 successful a drawdown sparked by U.S. tariff threats connected China and drying liquidity.

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Kendrick said successful the enactment that the drawdown was “normal,” citing 2 akin corrections since the Securities and Exchange Commission approved trading of Bitcoin exchange-traded funds successful January 2024. However, the correction means Standard Chartered’s erstwhile near-term targets are wrong, helium said.

Standard Chartered present sees Bitcoin finishing this twelvemonth astatine $100,000, down from its erstwhile prediction of $200,000. For 2026, it present sees Bitcoin finishing the twelvemonth astatine $150,000, down 50% from $300,000 earlier.

Meanwhile, the steadfast has dropped its 2027 people from $400,000 to $225,000 and its 2028 people from $500,000 to $300,000. In 2029, its people is besides nary longer $500,000 but $400,000.

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Standard Chartered is predicting a slower gait of Bitcoin growth, arsenic it nary longer expects purchases from integer plus treasury companies. These companies were capable to accumulate Bitcoin without diluting shareholders by trading astatine a premium to their underlying holdings. Now, arsenic valuations shrink, Kendrick said helium expects to spot these companies consolidate.

With treasury companies retired of the equation, Kendrick said successful the enactment that the superior Bitcoin terms operator near is ETF flows. He added that the Bitcoin ETF marketplace would apt instrumentality respective years to mature arsenic capitalist entree broadens and concern committees marque up their mind.