newsbtc.com
In a recent client note, Standard Chartered’s Head of Digital Assets Research, Geoff Kendrick, predicted that Bitcoin ($BTC) could surge to $500,000 by the end of 2028. The executive attributed $BTC’s potential extraordinary price rise to two major factors.
Factors Propelling $BTC Price
While 2024 was a landmark year for the world’s largest cryptocurrency – seeing it reach multiple all-time highs (ATH) and surpass $100,000 for the first time – 2025 has seen more moderate price action. Since January 1, $BTC has climbed from around $94,000 to $98,486 as of February 5.
However, Kendrick believes that from the latter half of 2025 through 2028, Bitcoin could enter another parabolic growth phase. He forecasts $BTC reaching $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and ultimately $500,000 by the end of 2028.
Kendrick attributes this ambitious price trajectory to two key factors: improved investor access and decreasing volatility. The approval of spot Bitcoin exchange-traded funds (ETFs) in the US in January 2024 significantly simplified investor access to $BTC.
Additionally, as Bitcoin’s price and market capitalization grow, its volatility has been decreasing. A larger market cap makes it more difficult for any single trader or entity to manipulate $BTC’s price.
Kendrick expects this trend to continue as ETF markets mature and supporting financial infrastructure within the crypto market strengthens. Kendrick added:
The ETFs have attracted a net $39 billion of inflows so far, supporting the theory of pent-up demand being unleashed by increased access. Donald 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.
If Trump’s administration moves forward with establishing a national digital assets reserve, Bitcoin’s volatility could decline even further. This could attract traditionally risk-averse investors who were previously hesitant due to $BTC’s price swings.
Bitcoin Price Forecasts Have Bullish Undertones
Over the past few days, $BTC has faced increased volatility, briefly plummeting to $91,000 amid concerns over US trade tariffs on Mexico, Canada, and China. However, analysts remain confident in Bitcoin’s long-term bullish outlook.
For instance, seasoned crypto trader Alex Becker recently stated that a $150,000 price target for $BTC is too conservative. Likewise, a report by CryptoQuant predicts $BTC could reach anywhere between $145,000 and $249,000 under a Trump administration.
On-chain data also suggests that Bitcoin ‘whales’ – investors controlling crypto wallets with large $BTC holdings – are positioning themselves for a bullish price trajectory, signaling confidence in $BTC’s long-term growth under the Trump regime. At press time, $BTC trades at $98,486, down 1.3% in the past 24 hours.