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Bitcoin to Hit $500K by 2028 as ETFs Ease Access, Volatility Drops: Standard Chartered
The bank expects institutional inflows into spot bitcoin ETFs to grow as volatility drops, leading to significant price appreciation in the long term.
Feb 5, 2025, 4:31 p.m.
What to know:
- Standard Charted said it sees bitcoin rising to $500,000 as access to the cryptocurrency grows and its volatility drops.
- The rise should come while Donald Trump is still leading the White House and is expected to be gradual.
The price of bitcoin (BTC) could balloon to $500,000 by 2028, lifted by increased investor access and diminishing volatility that will help keep it serving as a unique hedge against issues plaguing traditional finance, according to Standard Chartered.
The largest cryptocurrency is likely to become less volatile as the year-old U.S. exchange-traded fund (ETF) market matures, Geoffrey Kendrick, the global head of digital assets research, wrote in a note.
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Access to BTC is improving under the Trump administration and institutional inflows into spot bitcoin ETFs are set to keep on growing, he wrote. The two influences are set to raise bitcoin's share of an optimized two-asset portfolio with gold, which “should lead to price appreciation longer-term as the portfolio continues to move towards their optimal/logical state,” Kendrick wrote.
This is “enough to drive Bitcoin to $500,000 before Trump leaves office.”
The bank’s year-end price target for the cryptocurrency is $200,000. The 2026 target is $300,000.
Bitcoin is currently trading around $98,000, and the bitcoin-gold ratio has recently hit its lowest level since mid-November as the precious metal surged amid ongoing concerns of a U.S.-China trade war and increased Chinese demand.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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