Geoffrey Kendrick from Standard Chartered has made another prediction on crypto; this time, he made some statements around Bitcoin that can reach new heights.
He predicts that the value of Bitcoin could escalate to $200,000 by the end of 2025 and even $500,000 by 2028. As per the current price of Bitcoin, which is around $90,000, Bitcoin can jump up to 100% by this year.
Kendrick’s bullish view is mostly due to Bitcoin’s singular position as a hedge against risks in the financial system, especially during times of uncertainty.
As per him, Bitcoin’s primary function is as a safeguard against financial system risks. The cryptocurrency’s decentralized nature makes it a solid option during periods of financial instability.
When Silicon Valley Bank failed in March 2023, Bitcoin gave some relief. Similarly, Bitcoin’s decentralized structure can help reduce risks associated with government policies, such as concerns about the US Treasury’s actions or the Federal Reserve’s decision-making.
One metric that Kendrick is tracking closely is the US Treasury term premium, which recently reached a 12-year high. The term premium shows the additional risk that investors take in holding long US Treasury bonds. Bitcoin has been correlated with this premium since early 2024, Kendrick has noticed.
But lately, Bitcoin has not kept up with the term premium’s increase. Kendrick attributes this lag to earlier fears that tariffs would hurt technology stocks, and since Bitcoin often mirrors the performance of these stocks, it didn’t keep up.
Regardless of this, Kendrick is convinced that Bitcoin will continue to appreciate as long as there are continued worries regarding the independence of the Federal Reserve. With possible shifts at the Fed, including the possible ouster of Jerome Powell, these risks would propel further growth for Bitcoin.
Kendrick’s prediction continues to be hopeful, with a possibility that Bitcoin might shatter new all-time highs in the near term as these economic ambiguities unfold.
This isn’t the first time Kendrick has made bullish crypto predictions. In the recent past, he has also predicted that XRP could rise to $12.50 by the end of 2028 and AVAX could reach $250 by 2029.
Overall, although Bitcoin sometimes does not trend perfectly with other assets such as tech stocks, it is slowly being regarded more and more as a hedge asset during periods of financial uncertainty, with Kendrick predicting tremendous growth to come.
Also Read: Bitcoin Price Forecast Tools Signal $210,000 Peak for 2025
