Global Bank Giant's 2x Prediction for Bitcoin: Here are the Target Prices!

The world-renowned bank Standard Chartered claims that the price of Bitcoin (BTC) will exceed $200,000 by the end of the year due to the increasing interest from institutional companies and strong capital inflows into Bitcoin ETFs.

Geoff Kendrick, head of digital asset research at the UK-based international bank Standard Chartered, shared a very optimistic new analysis for Bitcoin. Kendrick stated that Bitcoin would reach $135,000 by the end of the third quarter and would exceed $200,000, reaching record levels by the end of the year.

Pointing out that in past Bitcoin halving cycles, the price dropped about 18 months after the halving event, Kendrick believes this time will be different. According to the bank's analysis, strong ETF investments and institutional purchases of Bitcoin following the last halving that occurred in April 2024 will push the BTC price to levels not seen before. Kendrick also emphasized that these factors were absent in previous cycles.

In Standard Chartered's report, it was mentioned that a total of 245,000 BTC flowed into Bitcoin ETFs and institutional purchases in the second quarter, and this amount is expected to increase further in the third and fourth quarters. However, the report also noted that due to correction concerns from previous halving cycles, some fluctuations in prices may be seen as we enter the last quarter of the year.

On the other hand, US-based spot Bitcoin ETFs recently recorded an outflow of $342.3 million for the first time after about 15 days of continuous inflow. However, it was emphasized that this figure is small compared to the total inflows of $4.8 billion.