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ONE BITCOIN BULL ‌HAS CUT THEIR FORECAST AS "COLD BREEZE" BLOWS

Standard Chartered, one of the staunchest bitcoin advocates, has cut its price forecasts for 2025 and 2026 ⁠in half, underscoring the severity of the selloff in crypto markets.

Geoff Kendrick, ​the global head of digital assets research at ‌the bank, said on Tuesday ⁠he now expects bitcoin prices around $100,000 by the end of 2025 and $150,000 by the end of next year, both ​half of his previous estimates.

The rethink reflects a shift in expected demand, with future buying likely to be driven mainly by exchange-traded funds rather than by companies adding bitcoin to ​their ‍balance sheets, he said. ​Many bitcoin holding companies now trade at a discount to the value of their crypto assets.

Kendrick still believes bitcoin can reach $500,000, but only by 2030, marking a two‑year delay from his earlier call. 

The recalibration from one of the biggest bitcoin bulls ⁠underlines the depth of the price slide and the sharp deterioration in sentiment, which could ​raise further questions about the crypto industry.

Kendrick, however, said his sense was this was "not a crypto winter, just a cold breeze."

(Niket Nishant)

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