① Standard Chartered has almost halved its future Bitcoin price forecasts across the board, with the largest drop in the 2026–2028 period; ② Kendrick said the forecast adjustments were mainly driven by the recent Bitcoin sell-off.
As one of the most steadfast Bitcoin bulls on Wall Street, Standard Chartered Bank Geoff Kendrick, global head of digital asset research, recently significantly lowered his forecast for this crypto asset.
Earlier this year, Kendrick predicted that Bitcoin would reach $200,000 by the end of 2025. However, in a report to clients on Tuesday, Kendrick stated that Standard Chartered has significantly lowered its price forecast for Bitcoin until 2030.
Kendrick stated that Standard Chartered currently expects Bitcoin to close at around $100,000 by the end of this year, representing a 6% upside from current levels.
For next year, he expects Bitcoin to rise to $150,000, only half of his previous target of $300,000.
Here is Standard Chartered Bank 's latest five-year price target for Bitcoin, which is significantly lower than its previous forecast:
2026: New target $150,000 (old target $300,000)
2027: New target $225,000 (old target $400,000)
2028: New target $300,000 (old target $500,000)
2029: New target $400,000 (old target $500,000)
2030: Maintain the $500,000 target unchanged.
These figures show that Standard Chartered has almost halved its future Bitcoin price forecasts across the board, with the largest drop expected in the 2026–2028 period.
Kendrick stated that the forecast adjustment was primarily driven by the recent Bitcoin sell-off. In his report, he noted that Bitcoin has fallen approximately 27% since reaching its high in early October.
He said that institutional Bitcoin holders (i.e., companies that buy and hold Bitcoin on their balance sheets) may no longer support the price of Bitcoin in the future. Instead, Bitcoin's continued rise will mainly depend on ETF inflows.
“Recent price action has forced us to recalibrate our Bitcoin price forecasts,” Kendrick wrote, adding that the firm believes corporate-level Bitcoin buying “has run its course,” but ETF inflows may “cycle back up.”
This year has been quite challenging for Bitcoin. At the beginning of the year, the market experienced significant volatility due to its reaction to tariff news, while concerns about rising inflation and the Federal Reserve's reduced rate cuts in 2026 also put pressure on it.
The recent decline in Bitcoin was dragged down by multiple negative factors, including insufficient market liquidity, reduced risk appetite amid uncertainty about interest rate cuts, and speculation that Strategy, the largest corporate buyer of Bitcoin, may be forced to sell some of its holdings.
(Article source: CLS)
