Standard Chartered still sees bitcoin hitting $500,000 despite recent selloff
Portfolio Pulse from
Standard Chartered's head of digital assets research, Geoffrey Kendrick, predicts bitcoin will reach $200,000 this year and $500,000 in the coming years, despite recent selloffs. He attributes this to increased institutionalization of the industry, which should reduce negative events like the recent Bybit hack.
February 27, 2025 | 3:00 pm
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POSITIVE IMPACT
Standard Chartered's optimistic forecast for Bitcoin could positively influence investor sentiment towards the bank, as it shows confidence in digital assets.
Standard Chartered's positive outlook on Bitcoin suggests a strong belief in the future of digital assets, which could enhance the bank's reputation and attract investors interested in crypto. This could lead to a positive short-term impact on SCBFF's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80