Standard Chartered has sharply lowered its Bitcoin price forecast, halving its end-2025 target from $200,000 to $100,000, while pushing back its long-term $500,000 forecast by two years to 2030.
According to Jeffrey Kendrick, head of digital asset research at the bank, the performance of the flagship asset forced them to change their forecasts. However, according to the expert, BTC’s decline of approximately 36% from its all-time high in October to approximately $80,500 by the end of November is still «within normal expectations» compared to previous declines since the launch of spot trading. ETF in the U.S..
Our previous short-term goals are wrong,» Kendrick wrote.
According to an updated forecast, Standard Chartered analysts expect that by the end of 2025 Bitcoin will reach $100,000 in 2025, $150,000 in 2026, $225,000 in 2027, $300,000 in 2028, $400,000 in 2029, and $500,000 in 2030. Previous forecasts for 2025 included $200,000 and for 2028, $500,000.
Kendrick attributes the new forecasts to a shift in who is generating additional demand. He believes the two key factors that contributed to the coin’s growth following the approval of spot ETF in the US, there has been an influx of funds ETF and purchases by companies involved in «digital asset treasuries.»
He’s talking about publicly traded companies with large Bitcoin positions on their balance sheets, including Strategy and several Bitcoin miners. He now claims that the second phase is effectively over.