Standard Chartered Bank is optimistic about the Bitcoin trend for the remainder of this year, mainly due to the continued strong inflow of institutional buying and ETF funds.
Standard Chartered expects Bitcoin to refresh its historical high of $135,000 by the end of the third quarter and to break the $200,000 mark before the end of the year. Geoff Kendrick, the bank's head of digital asset research, stated this in a report released and shared with Cointelegraph on Wednesday (July 2).
Kendrick noted, "With the increase in investor capital inflow, we believe BTC has broken the traditional pattern of price declines 18 months after the previous 'halving' cycle." He added that, based on historical halving trends, Bitcoin's price should have declined in September or October 2025.
This latest report further strengthens Standard Chartered's bullish stance on Bitcoin, predicting that the price will reach $500,000 per coin by 2028.
In the latest analysis, Kendrick focuses on the potential impact of the Bitcoin halving cycle. Bitcoin halving events typically occur every four years, with each halving reducing the Bitcoin mining reward by 50%. Each halving has been closely related to significant increases in Bitcoin prices followed by subsequent adjustments.
Kendrick stated that although Bitcoin prices fell about 18 months after the halvings in 2016 and 2020, the upcoming halving in April 2024 may show a different trend due to new driving factors such as ETFs and institutional funds.
"We expect that with the continued buying power from ETFs and institutions, prices are likely to rise again," Kendrick emphasized in the latest report, noting that these two driving forces were absent in previous halving cycles.
However, Standard Chartered also pointed out that due to past halving corrections, Bitcoin prices may experience some volatility from the end of the third quarter to the beginning of the fourth quarter this year, as the market still harbors concerns about the adjustment patterns following previous halvings.
Related: Arizona Governor vetoes bill on seized cryptocurrency reserve fund
Original: “Standard Chartered expects Bitcoin (BTC) to refresh its historical high of $135,000 in Q3”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
