Standard Chartered Reaffirms its $150,000 Bitcoin target by the end of this year

Geoff Kendrick of Standard Chartered’s Digital Assets Research reiterated recently the bank’s ambitious Bitcoin target price of $150,000 before the end of the year despite market volatility. The comprehensive interview Kendrick discussed the role that ETFs, and forthcoming halving events play in Bitcoin’s value.

Bitcoin to Rally to $150,000 by Year’s End

Kendrick identifies the massive influx of money into Bitcoin ETFs in the United States as one of the main drivers. These ETFs have seen net capital inflows of approximately $12 billion since their inception in early 2024. Kendrick emphasized the importance of these developments by stating: “The ETF inflows in the US have dominated really the demand supply metrics in 2024 so far. This is huge in terms of how the ETFs have gone so far.”

The current Bitcoin trends and those of the historical performance of gold Following the introduction of ETFs for gold. Kendrick expanded on this trend’s potential by making projections. “From the start of this year to when the ETF market in the US is mature, we’ll get between $50 and $100 billion of inflow.”

The ETF inflows will also be accompanied by the Bitcoin halving Another important factor was the event. The mining of new blocks will be halved, and the amount of Bitcoins in circulation reduced.

Kendrick suggested that the halving could be a possibility “less important than previous ones,” He still believes it is significant for the dynamics of short-term supplies. He declared, “Obviously, once we have the halving […], you have only half as many new coins, so that helps at the margin.”

In response to questions regarding market skepticism. Particularly criticism from figures like JPMorgan CEO Jamie Dimon. described Cryptocurrency Bitcoin is an alternative to traditional currencies. “Ponzi scheme,” Kendrick provided a defence of the underlying technology behind Bitcoin. He argued, “There’s a lot of people out there that don’t understand the basic methodology behind Bitcoin. And it’s really that blockchain technology, which is where the value is medium term.”

Look Further Ahead

Kendrick went on to explain the transformational potential of Blockchain technology, not just for financial Services but in various industries “Bitcoin is the first in on that. It’s the largest asset at the moment, makes up for more than 50% of the crypto market, but that opens up the Ethereum and other use cases, which quite frankly, over the next five to 10 years, you can easily see a lot of traditional finance go on chain.”

He also addressed recent volatility in the market, noting the significant drop of Bitcoin just before the halving. $260 million worth of Bitcoin leverage was liquidated. Standard Chartered’s exec interpreted it as a corrective market that could lead to a stronger build-up following the halving. “We’ve had a large move lower in Bitcoin. Specifically, on Saturday last weekend, there were $260 million Bitcoin leverage positions that were liquidated. So the market is now looking much more square going into the halving, if you like, in terms of leverage.”

Kendrick’s outlook on Bitcoin was confident, predicting not just a recovery, but also a significant increase, fueled by the ETF and technological advances. He outlined his vision of Bitcoin at the end 2025. reaches Even beyond this year’s goal, the coin could have a value up to $200,000

BTC was trading at $66,556 as of the time this article went to press.

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