- Bitcoin is facing a pullback, but Standard Chartered has a bold outlook—$500,000 before Trump’s presidency ends
- With growing institutional interest, and political backing, could BTC be gearing up for its biggest rally yet?
While Bitcoin [BTC] faces a bearish pullback driven by macroeconomic uncertainty, Geoffrey Kendrick, Standard Chartered’s Head of Digital Asset Research sees a brighter future. In fact, he’s in the news today after he set a bold $500k target for the leading crypto asset before the end of Trump’s presidency.
AMBCrypto unpacks the key drivers that could make—or break—this bold prediction.
What would it take?
2025 kicked off with bold predictions – Bitcoin strategic reserves, banks offering BTC services, and a $150k price target.
Two months in, BTC’s still under $100k. Clearly, the market’s gone the other way, with investors playing it safe and chasing quick profits.
In this environment, a $500k prediction from Standard Chartered might sound a bit too ambitious. However, what grabbed AMBCrypto’s attention? This target was made under Trump’s administration – and there’s a reason behind it.
Since November’s elections, BTC has surged by over 30%, with $90k as the average market bottom. To hit $500k, Bitcoin would need a 455% jump before 2028.
Source: TradingView (BTC/USD)
Looking back, BTC registered gains of 156% in 2024. If it pulls off similar growth in the next few years, Standard Chartered’s bold prediction might just hit the mark.
Additionally, Trump’s regulatory shake-up, the SEC overhaul, his dislike of high interest rates, the DOGE cabinet, and a new crypto task force are pushing big targets forward – calling the current volatility as just a “temporary dip.”
Is Standard Chartered placing the right bet on Bitcoin?
A big chunk of BTC’s 156% YTD jump is thanks to U.S Spot ETFs, which have pumped billions into Bitcoin. BlackRock (IBIT) alone saw its Bitcoin holdings jump by a staggering 726%, now sitting at 585,393 BTC at press time.
Source: BitBo
And, it doesn’t stop there – BlackRock is set to launch a Bitcoin ETP (Exchange-Traded Product) in Europe, bringing even more global exposure and a flood of new capital into the market.
With all these factors at play, Standard Chartered’s bold Bitcoin prediction is starting to look more like a calculated bet on strong fundamentals, not just speculation.
Read Bitcoin’s [BTC] Price Prediction 2025–2026
So, a repeat of the 2024 pump doesn’t seem too far off. But now, it all comes down to whether Trump’s promises are executed swiftly as 2025 plays out.
The market is watching closely, especially as the ongoing trade war has already driven many into “extreme” fear.
