StanChart exec predicts $200K Bitcoin by 2025-end as demand continues to outpace supply

Standard Chartered caput of crypto probe Geoffrey Kendrick predicts Bitcoin volition proceed to rally implicit the coming 24 months to culminate successful a $200,000 terms per coin by the extremity of 2025.

Kendrick made the connection during a CNBC interview connected Feb. 29. He said that macro and cardinal indicators each constituent to a sustained rally for the flagship crypto.

Standard Chartered has antecedently made akin predictions earlier the spot Bitcoin exchange-traded funds (ETFs) were approved. At the time, the lender wrote that their approval was critical for Bitcoin to ascent to $200,000.

New all-time precocious earlier halving

Kendrick said the heightened request for Bitcoin volition apt origin the flagship crypto to deed a caller all-time precocious earlier the halving, which is little than 2 months away. He besides predicted that Bitcoin volition deed $100,000 by the extremity of this twelvemonth arsenic the halving reduces proviso adjacent further.

The halving event, which cuts the reward for mining caller bitcoins successful half, is anticipated to trim the ostentation complaint of Bitcoin from astir 1.7% to astir 0.8%. Mining rewards per artifact volition autumn to 3.125 from the existent 6.25.

This volition effect successful the regular proviso of Bitcoin falling to 450 BTC from 900 BTC. Historically, the 50% simplification successful caller proviso has been a large catalyst for terms increases successful erstwhile cycles.

Another notable operator down the bullish outlook is the important inflows into spot Bitcoin ETFs launched astatine the commencement of 2024.

ETFs driving demand

Kendrick highlighted that caller Bitcoin ETFs person seen significant inflows of $14 billion, with a nett inflow, excluding Grayscale’s outflows, of astir $6 billion. This equates to astir 110,000 caller Bitcoins being held, importantly boosting the market.

The Newborn Nine ETFs are soaking up Bitcoin astatine an mean complaint of 10,000 BTC per day, portion lone 900 BTC are produced regular — meaning request is already 10x higher than the supply.

Kendrick besides pointed to broader marketplace conditions and imaginable shifts successful Federal Reserve policies arsenic supportive backdrops for Bitcoin’s ascent. With expectations of Fed complaint cuts by mid-year, the easing monetary argumentation whitethorn favour hazard assets, including crypto.

Additionally, helium said that the wide maturation narrative, buoyed by optimistic banal marketplace trends, combined with the nonstop impacts of ETF inflows and the halving event, creates a compelling lawsuit for Bitcoin’s upward trajectory.

The station StanChart exec predicts $200K Bitcoin by 2025-end arsenic request continues to outpace supply appeared archetypal connected CryptoSlate.