2025-6-2 01:27 |
Bitcoin proponents clarified that their outlook for the largest cryptocurrency by market cap is especially bullish after the asset crossed $111,000. As expectations for the coming weeks heighten, price predictions are flying in consistently.
Standard Chartered, the British multinational bank, is one notable institution that has doubled down on its previous Bitcoin price forecast, which can be considered one of the boldest price predictions made thus far.
According to the international bank, Bitcoin is on track to hit the $500,000 price mark before President Donald Trump exits office. Notably, the current president’s second term, which began on January 20, 2025, will elapse on January 20, 2029. As such, the bank is optimistic that Bitcoin could build enough momentum over four years to attain a 358.926% increase in value.
Geoffrey Kendrick, the global head of Digital Assets Research at Standard Chartered, points to a rise in institutional interest as a catalyst for a long-term price boom.
“The 13F data from the US Securities and Exchange Commission supports our core thesis that Bitcoin will reach $500,000 before Trump leaves office. Bitcoin is attracting a wide range of institutional players.” Kendrick asserted.
According to the SEC, Form 13F is a “statutory directive” created to inform the public about the securities holdings of leading institutional investors.
Kendrick explains the significance of the data, stating the following;
“The quarterly 13F data is the best test of our thesis that BTC will attract new institutional buyer types as the market matures, helping the price reach our USD 500,000 target level.” He added.
Meanwhile, Bitcoin is kicking off the new week on a lukewarm note, with bulls failing to hold above the $110,000 mark. Although gains sustained over the last 7 days are up 5.70%, hourly losses sit at 0.08% during this report. Bitcoin is valued at $108,950 at press time.
origin »Bitcoin (BTC) на Currencies.ru
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