Crypto price prediction: Bitcoin (BTC) will reach $500k by 2028?

 Bitcoin's price prediction by Standard Chartered:

Bitcoin’s price remained below $100,000 on Thursday as the broader cryptocurrency market faced risks from global economic uncertainty. Despite this, experts remain optimistic about Bitcoin’s long-term growth. Geoffrey Kendrick, head of digital assets research at Standard Chartered, predicts that Bitcoin could reach $500,000 by 2028. He believes that increasing investor access and decreasing volatility will play key roles in pushing Bitcoin’s value higher over the next few years.

One major factor supporting this prediction is the improved access to Bitcoin investments. The launch of U.S. spot Bitcoin ETFs in January 2024 has already brought in $39 billion in new investments. Kendrick expects this trend to continue as more financial products become available. As more institutional investors participate, Bitcoin’s price is expected to stabilize, making it a more attractive investment.

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Another important factor is the reduction in Bitcoin’s volatility. Kendrick points to the development of financial infrastructure, such as options markets, which help create a more stable trading environment. He compares Bitcoin’s potential growth to gold, which saw its price rise significantly after exchange-traded products were introduced in 2004. He expects Bitcoin to follow a similar trend, but at a faster pace.

Beyond ETFs and market maturity, Kendrick also highlights potential policy changes under Donald Trump’s administration. The repeal of certain accounting rules has made it easier for companies to hold digital assets. Additionally, Trump’s executive order to explore a national digital asset stockpile could encourage central banks to invest in Bitcoin. These developments could further boost demand and push prices higher.

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Based on these factors, Kendrick expects Bitcoin to reach $200,000 by the end of 2025, $300,000 by 2026, and eventually $500,000 by 2028. He believes that as investor confidence grows and financial regulations become more favorable, Bitcoin’s value will continue to rise. While risks remain, his forecast suggests that Bitcoin could play an even bigger role in the global financial system in the coming years.