The crypto bull -standard desk still sees Bitcoin reaching $ 500,000

Standard Chartered’s crypto analyst still sees the price of Bitcoin that reaches $ 500,000 during the presidency of Donald Trump, even after a sale of the world’s largest digital currency at a minimum of three months.

Geoffrey Kendrick, who directs the investigation of digital assets at Standard Chartered, told CNBC that he believes that Bitcoin will reach the $ 200,000 mark this year before climbing even more in the coming years.

“Within the cryptographic ecosystem, what we need are traditional financial players, such as Standard Charteredas Black rock And others now have the ETFs now intervene, “Kendrick said in an interview with Thursday” Europe Squawk Box “by CNBC.

“As the industry is institutionalized, it should be safer,” Kendrick said, adding that this should lead to less negative holders, such as recent Hack of $ 1.5 billion in the exchange of BYBIT cryptocurrencies last week.

This increase in the adoption of cryptographic by institutions, together with some “regulatory clarity” in the United States, should lead to less volatility over time, he added.

“That should increase that medium -term potential, which for me is Bitcoin up to $ 200,000 this year, and $ 500,000 before Trump leaves the office,” Kendrick told CNBC.

Kendrick said that the catalyst necessary for large financial institutions to gain confidence to invest in Bitcoin and other cryptographic assets is a stabilization in prices and greater regulatory clarity.

Bitcoin earlier this week It sank at a minimum of three months below $ 90,000 In the midst of decreases in world capital markets. Until Thursday, the Token was quoted at $ 86,418. That means that it has dropped approximately 20% from a historical maximum of $ 108,786, in which the currency reached its maximum point in January, according to Coingcko data.

Kendrick of Standard Chartered said that digital currencies have been reduced more widely due to uncertainty about tariffs and resolutions to the main wars such as Russia-Ukraine and Israel-Gaza.

“Risk assets do not like uncertainty, and that is what we have seen. We have seen technological actions in the United States that decrease,” Kendrick said, adding that Bybit’s rape has also contributed to a negative feeling that surrounds Crypto more broadly.

He hopes that crypto’s prospects will improve later in the year as merchants expect key regulatory developments in the industry, as new rules around Stablecoins and anti-launch of money.

“That should be legitimized even more, so you will see more American banks involved. You will see that the largest institutions in the United States continue advancing,” Kendrick said.

Kendrick was one of the numerous market analysts who predicted a duplication in the price of Bitcoin this year at $ 200,000. Bitcoin broke the long -awaited $ 100,000 mark in December after Trump’s election to the presidency of the United States.

Crypto Bulls come to Trump positively given their support to digital currencies. In January, Trump signed an executive order promoting the progress of cryptocurrencies in the US and the development of national digital asset storage.

Cryptographic investors, companies and executives It represented almost half of corporate donations In the 2024 electoral cycle, with some tens that contribute millions of dollars to the Trump campaign.