Geoffrey Kendrick from Standard Chartered believes Bitcoin could double in price this year and reach $200,000 by the end of 2025. He even thinks it might hit $500,000 by 2028.
Right now, Bitcoin is around $90,000. Kendrick says one big reason for this possible rise is that Bitcoin is seen as a safe place to put money when the financial system is shaky. Because it's decentralized, it's less affected by government actions or central bank decisions.
For example, when Silicon Valley Bank failed in 2023, Bitcoin gave investors some peace of mind. Kendrick also points out that Bitcoin has been linked to the US Treasury term premium – a sign of risk in the market – though lately, Bitcoin hasn't kept up with its rise. He thinks that’s because of past worries about tech stocks, which Bitcoin often follows.
Still, he’s confident Bitcoin will grow, especially if there are big changes at the Federal Reserve, like the possible removal of Jerome Powell.
Kendrick has made other bold crypto calls before. He predicted that XRP might go up to $12.50 by 2028 and AVAX could reach $250 by 2029.
All in all, even if Bitcoin doesn’t always move with other assets, more people are starting to see it as a good backup during tough times — and Kendrick sees big gains ahead. $BTC $XRP $AVAX