Bitcoin at $135,000 by the end of the third quarter? Standard Chartered is convinced.
A new ATH for Bitcoin? The British bank Standard Chartered has been rather optimistic about the price of Bitcoin (BTC) for quite some time. But while its analysts previously saw the price of the king of cryptos reaching $120,000 this year, they have now significantly raised their forecast.
Bitcoin could reach $135,000 before the end of September.
In a recent analysis by Geoff Kendrick, head of digital asset research at Standard Chartered, we learn that the British bank expects Bitcoin to reach a new all-time high of $135,000 by the end of the third quarter of 2025.
And it’s not over yet, as Geoff Kendrick believes that BTC could even exceed $200,000 by the end of the year. He particularly explains this by the strong demand for spot Bitcoin ETFs and by the purchases of BTC by corporate treasuries.
Is the 4-year BTC cycle, which followed the halving of the network, a thing of the past?
As the analyst from Standard Chartered points out, it is true that during the two previous halvings (the halving of the block reward given to miners) on the Bitcoin network (in 2016 and 2020), the price of BTC hit a low about 18 months after this halving of mining incentives.
However, the last halving took place in April 2024. If we followed the logic of previous cycles, the price of Bitcoin should know a low around September or October 2025.
But as Geoff Kendrick explains, the arrival of spot Bitcoin ETFs (in January 2024) and the purchases of BTC by corporate treasuries are two new factors that were not present during previous cycles. This could therefore change the game.
Even if the Bitcoin halving cycle does not turn out to be completely erased, it seems strongly disrupted by the arrival of spot BTC ETFs. Because if we look at previous cycles, the king of crypto assets should have reached its all-time high (ATH) in April 2025. But it is true that the enormous success of BTC ETFs – which have attracted nearly $50 billion in institutional investments.
