Despite recent market turbulence triggered by Middle East tensions, Standard Chartered maintains its highly optimistic outlook for Bitcoin, predicting prices could more than double by the end of 2024. Here's why analysts believe this crypto asset remains on a bullish trajectory.
Bitcoin Price Projection: $150K Target by December
Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, recently reaffirmed his year-end Bitcoin price target of **$150,000**—implying **100%+ growth** from March's all-time high of ~$73,000.
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Key factors supporting this forecast:
- Significant ETF fund inflows ($12B since January approval)
- Post-halving supply squeeze (reduced new Bitcoin issuance)
- Maturing cryptocurrency investment infrastructure
Recent Market Correction Explained
Bitcoin has retreated ~10% from its peak to ~$66,500 due to:
- Slowing ETF inflows after initial surge
- Geopolitical uncertainty in Middle East dominating market sentiment
- Temporary cautious sentiment across crypto markets
The Halving Effect: Bullish Long-Term Outlook
The April 2024 Bitcoin halving event reduced miner rewards by 50%, historically preceding major bull runs:
| Halving Year | Price 12 Months Later |
|---|---|
| 2012 | +8,000% |
| 2016 | +1,000% |
| 2020 | +700% |
While some analysts predicted post-halving declines, Kendrick observes Bitcoin maintaining its upward trajectory:
"From where we are now, it appears we could move higher again."
Institutional Adoption Driving Growth
Standard Chartered projects:
- $500B-$1T potential ETF inflows over next 2-3 years
- $250,000 price target possible by 2025 (250% above current ATH)
- Continued maturation of crypto investment products
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FAQ: Bitcoin Investment Outlook
Q: Why did Bitcoin drop after reaching all-time highs?
A: The correction stems from temporary factors including geopolitical tensions and natural profit-taking after rapid gains.
Q: How reliable are post-halving price predictions?
A: While past performance doesn't guarantee results, all previous halvings preceded major bull markets within 12-18 months.
Q: What's driving institutional Bitcoin interest?
A: ETF approvals, portfolio diversification needs, and growing recognition of Bitcoin as "digital gold" are key factors.
Q: How risky is investing in Bitcoin now?
A: Volatility remains high, but long-term adoption trends and limited supply create compelling fundamentals.
Q: Should investors buy the current dip?
A: Market timing is difficult—dollar-cost averaging and portfolio allocation strategies often outperform short-term speculation.
Q: What could derail Bitcoin's growth?
A: Potential risks include regulatory crackdowns, technological vulnerabilities, or macroeconomic shocks reducing risk appetite.
Disclaimer: Cryptocurrency investments involve substantial risk. This content represents analysis only, not investment advice.