Standard Chartered’s Geoffrey Kendrick, a leading voice in digital assets research, has reaffirmed his bullish outlook on Bitcoin, predicting that the world’s largest cryptocurrency could hit $500,000 before the end of Donald Trump’s presidency. Despite a recent sell-off that sent Bitcoin to a three-month low, Kendrick remains optimistic about its future trajectory, stating that the cryptocurrency will likely surge to $200,000 this year and continue its upward momentum in the coming years.
In a recent CNBC interview, Kendrick highlighted the importance of traditional financial players such as Standard Chartered and BlackRock entering the crypto space. Their involvement, especially through cryptocurrency ETFs, will contribute to a more institutionalized crypto ecosystem. Kendrick believes this will bring increased safety, minimizing the risk of negative headlines like the recent $1.5 billion hack on the cryptocurrency exchange Bybit.
Kendrick’s confidence is grounded in the growing adoption of crypto by major institutions, alongside expectations for clearer regulatory frameworks in the U.S. He anticipates that these developments will reduce volatility, allowing Bitcoin and other digital assets to flourish over time. “As the industry becomes more institutionalized, it should be safer,” Kendrick said, underscoring the importance of regulatory clarity in fostering a more stable market environment.
Although Bitcoin recently fell to $86,418, down 20% from its all-time high of $108,786 in January, Kendrick remains undeterred. He attributes the decline to global uncertainty, including geopolitical tensions and concerns over tariffs. However, he expects a rebound later in the year as traders anticipate key regulatory developments around stablecoins and anti-money laundering measures.
Kendrick’s prediction aligns with broader market expectations, with many analysts forecasting a potential doubling of Bitcoin’s price this year. The crypto market’s future is further buoyed by Trump’s support for digital currencies, as evidenced by his executive order in January aimed at advancing cryptocurrencies in the U.S. The backing of the Trump administration and growing political influence of crypto investors only strengthens the case for Bitcoin’s bullish outlook.
As institutions and regulatory clarity drive crypto adoption, Kendrick’s prediction of a $500,000 Bitcoin seems increasingly plausible within Trump’s term.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
