$500,000 Bitcoin Price Expected By 2028 Due To These Critical Factors — Standard Chartered ⋆ ZyCrypto
The post $500,000 Bitcoin Price Expected By 2028 Due To These Critical Factors — Standard Chartered ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Standard Chartered has backed a bullish Bitcoin (BTC) price surge as long-term macro factors in the United States favor the market. The bank’s researchers project a $500K price target during Donald Trump’s second term in the White House. This follows similar projections from several institutions and market experts on a cycle high as funds flow ramp up. Currently, Bitcoin’s price faces short-term roadblocks as it trades below the $100k market. Standard Chartered Forecasts 500% Growth In a new note, Geoffrey Kendrick, the bank’s head of digital asset research, wrote that Bitcoin price will hit $500,000 before the end of Donald Trump’s term. According to analysts, a 500% growth is possible due to favorable market conditions ushered in by the present administration. Factors cited include soaring institutional interest in Bitcoin, the wider market, and positive regulations. Institutional interest has been the pillar of a growing BTC price in the last eighteen months. In 2023, spot Bitcoin ETF applications propelled the market to recovery from the 2022 crypto winter. The Securities and Exchange Commission’s (SEC) approval of these funds fueled a new chapter of institutional inflows. Massive inflows recorded due to the new window spurred Bitcoin to multiple all-time highs. This year, more traditional firms are tipped to widen their market exposure. This spike in adoption from institutional and retail traders will reduce volatility and build sustainability peaks. With over $40 billion in spot BTC ETFs, Kendrick projects a massive run in the next four years. “The ETFs have attracted a net $39 billion of inflows so far, supporting the theory of pent-up demand being unleashed by increased access… Trump’s January 23 order that the administration evaluate a potential national digital assets stockpile is also important, as this could encourage other central banks to consider Bitcoin investments,” he added.…
Filed under: News - @ February 7, 2025 3:22 pm