Standard Chartered Predicts Bitcoin to Hit $500,000 Despite Recent Market Dip

Sean FA
February 27, 2025
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Geoffrey Kendrick, head of digital assets research at Standard Chartered, has reaffirmed his optimistic Bitcoin price projection. He predicts that Bitcoin will reach $200,000 by the end of 2025 and surge further to $500,000 by 2028. According to Kendrick, the growing institutional involvement in cryptocurrencies will stabilize the market, making it more secure and reducing volatility.

Institutional Adoption and Regulatory Developments

Kendrick highlights that the crypto market is evolving as traditional financial institutions like sovereign wealth funds and pension funds start participating. This shift is expected to drive Bitcoin prices higher while ensuring a safer, more stable ecosystem. Additionally, increased regulatory clarity in the U.S. is expected to provide a framework that reduces volatility and encourages greater institutional investment.

Recent Market Declines and Security Concerns

Despite Kendrick’s long-term optimism, Bitcoin has recently faced setbacks:

  • Bitcoin dropped below $90,000, marking a 20% decrease from its January peak.
  • The decline was partly triggered by the $1.5 billion hack on crypto exchange Bybit.
  • The FBI has linked the hack to North Korean-backed hackers, specifically the Lazarus Group.

This security breach has impacted market sentiment, leading to a sell-off in cryptocurrencies. However, Kendrick believes that as security measures improve and institutional confidence grows, these setbacks will have less of an impact on long-term price movements.

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Future Outlook: A $500K Bitcoin by 2028?

Kendrick remains confident that Bitcoin will achieve its $500,000 price target before 2028. Key catalysts for this growth include:

  • Wider institutional adoption by major financial firms.
  • Greater regulatory clarity to reduce uncertainty.
  • Improved security protocols to prevent hacks like the Bybit incident.

The political landscape also plays a role. The crypto market has responded positively to Donald Trump’s pro-crypto stance, including his executive order promoting digital asset development in the U.S. Crypto companies and investors played a major role in the 2024 election cycle, contributing millions to Trump’s campaign.

Kendrick asserts that as the crypto ecosystem matures, the volatility that has historically defined Bitcoin will decrease, making it a more attractive asset for large financial institutions.

Final Thought

Despite recent setbacks, Standard Chartered remains bullish on Bitcoin’s future, with Geoffrey Kendrick predicting a rise to $200,000 this year and $500,000 before 2028. Institutional adoption, improved security, and regulatory developments are expected to drive this exponential growth.

As the crypto landscape continues to evolve, investors will be watching closely to see if these predictions materialize.

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Author Sean FA