In a significant revision of their previous forecasts, Standard Chartered has adjusted its Bitcoin price expectations for 2026, projecting that the cryptocurrency will reach $150,000—down from the previously anticipated $300,000. Despite this reduction, the new target still indicates a potential upside of over 65% compared to Bitcoin’s closing price earlier this week.
Geoff Kendrick, the bank’s global head of digital assets research, outlined a broader outlook that also reflects lowered expectations through 2029. He now anticipates that Bitcoin could achieve the $500,000 mark by 2030, which is a two-year delay from earlier projections.
Kendrick referred to the current decline in Bitcoin’s value as “normal,” especially considering historical trends observed since exchange-traded funds (ETFs) linked to the cryptocurrency began trading. He cautioned, however, that current valuations do not support significant corporate buying, implying that near-term price increases will largely depend on ETF investments.
In his recent client note, Kendrick emphasized that future growth in Bitcoin prices will primarily hinge on demand from ETFs. This acknowledgment has led to a reevaluation of year-end price forecasts.
Despite the adjusted figures, Kendrick maintains that the long-term goal of $500,000 remains viable. He pointed out that global investment portfolios currently show a trend of being underweight in Bitcoin. While decisions regarding asset allocation may take time, these shifts are expected to accumulate gradually, ultimately leading to higher Bitcoin valuations.
Kendrick encouraged investors to view the current market landscape not as a prolonged downturn, or “crypto winter,” but rather as “just a cold breeze,” suggesting that future opportunities still lie ahead for cryptocurrency enthusiasts and investors alike.
