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Standard Chartered Forecasts Bitcoin Surge to $135,000 by Q3, Eyeing New All-Time Highs
Standard Chartered, a global banking giant, has issued a highly optimistic forecast for Bitcoin, predicting the cryptocurrency will reach $135,000 by the end of the third quarter of this year. This bold projection signals a significant new high for Bitcoin, driven by robust institutional investment and corporate treasury acquisitions, diverging from historical post-halving price patterns.
Key Takeaways
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Standard Chartered anticipates Bitcoin to hit $135,000 by Q3 and potentially exceed $200,000 by year-end.
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The bank attributes this bullish outlook to strong inflows from Bitcoin Exchange-Traded Funds (ETFs) and increasing corporate treasury buying.
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This new dynamic is expected to counteract the historical trend of price declines 18 months after a Bitcoin halving event.
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Despite recent outflows from spot Bitcoin ETFs, the bank remains confident in sustained buying pressure.
Shifting Dynamics: Beyond the Halving Cycle
Historically, Bitcoin's price movements have often been influenced by its halving cycles, which reduce the mining reward by 50% approximately every four years. While previous halvings in 2016 and 2020 were followed by price corrections around 18 months later, Standard Chartered's digital asset research head, Geoff Kendrick, suggests that the impact of the April 2024 halving will be different. Kendrick highlights that the current market is bolstered by two significant drivers absent in prior cycles: strong ETF inflows and substantial corporate treasury buying.
The Role of ETFs and Corporate Investment
Standard Chartered's analysis emphasizes the pivotal role of institutional investment vehicles and corporate balance sheets in propelling Bitcoin's value. According to Kendrick, Bitcoin ETF flows and corporate treasury acquisitions accounted for 245,000 BTC in Q2 alone, a figure the bank expects to be surpassed in both Q3 and Q4. This sustained demand from traditional financial players and corporations is seen as a powerful counterweight to any potential post-halving downturn.
Navigating Market Volatility
Despite the overwhelmingly bullish forecast, Standard Chartered acknowledges that the price could experience some choppiness in late Q3 and early Q4. This potential volatility is attributed to lingering concerns about the historical correction patterns observed after previous halvings. However, the bank's long-term outlook remains exceptionally positive, with a projection of Bitcoin reaching $500,000 by 2028, reinforcing its conviction in the cryptocurrency's enduring growth trajectory.
Sources
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Bitcoin Halving Cycle Won’t Hurt Prices In 2025, SC Says, Cointelegraph.
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