StanChart exec predicts $200K Bitcoin by 2025-end as demand continues to outpace supply

Neatly-liked Chartered head of crypto evaluate Geoffrey Kendrick predicts Bitcoin will continue to rally over the coming 24 months to culminate in a $200,000 tag per coin by the tip of 2025.

Kendrick made the assertion correct thru a CNBC interview on Feb. 29. He mentioned that macro and traditional indicators all philosophize a sustained rally for the flagship crypto.

Neatly-liked Chartered has beforehand made an identical predictions earlier than the enviornment Bitcoin trade-traded funds (ETFs) occupy been authorized. On the time, the lender wrote that their approval became as soon as vital for Bitcoin to climb to $200,000.

Original all-time excessive earlier than halving

Kendrick mentioned the heightened quiz for Bitcoin will possible trigger the flagship crypto to hit a original all-time excessive earlier than the halving, which is decrease than two months away. He additionally predicted that Bitcoin will hit $100,000 by the tip of this one year as the halving reduces provide even further.

The halving tournament, which cuts the reward for mining original bitcoins in half of, is anticipated to prick inspire the inflation rate of Bitcoin from about 1.7% to roughly 0.8%. Mining rewards per block will plunge to three.125 from the latest 6.25.

This will additionally discontinue up within the day after day provide of Bitcoin falling to 450 BTC from 900 BTC. Historically, the 50% reduction in original provide has been a essential catalyst for tag increases in outdated cycles.

One other vital driver within the inspire of the bullish outlook is the colossal inflows into enviornment Bitcoin ETFs launched on the originate of 2024.

ETFs riding quiz

Kendrick highlighted that original Bitcoin ETFs occupy viewed vital inflows of $14 billion, with a receive influx, besides Grayscale’s outflows, of about $6 billion. This equates to roughly 110,000 original Bitcoins being held, very much boosting the market.

The Newborn Nine ETFs are absorbing Bitcoin at an moderate rate of 10,000 BTC per day, while completely 900 BTC are produced day after day — meaning quiz is already 10x better than the availability.

Kendrick additionally pointed to broader market prerequisites and doable shifts in Federal Reserve insurance policies as supportive backdrops for Bitcoin’s ascent. With expectations of Fed rate cuts by mid-one year, the easing monetary policy could well well additionally decide danger assets, alongside with crypto.

Moreover, he mentioned that the overall declare memoir, buoyed by optimistic stock market trends, blended with the affirm impacts of ETF inflows and the halving tournament, creates a compelling case for Bitcoin’s upward trajectory.