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#Bitcoin's price may rise to $500,000 in the long term
#Jeff Kendrick, Head of #cryptocurrency Research and #Fx Strategy, stated in a memo that $BTC could potentially rise to $500,000 in the long term if investor access improves and volatility decreases.
Standard Chartered predicts that Bitcoin will reach $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028. It was last traded at $98,241, up 1.6%.
**My comment:** Jeff previously predicted that Bitcoin would reach $125,000 by the end of 2024, and the actual price reached $108,000. I would say his prediction is somewhat acceptable. However, regarding the annual predictions, I believe they need reconsideration; otherwise, they may follow the same fate as previous ones.
I am not against a radical shift in Bitcoin's cycle, but I see it continuing its current trend for now: a peak every 4 years and a bottom every 4 years, with progressively higher peaks and troughs.
#Jeff Kendrick, Head of #cryptocurrency Research and #Fx Strategy, stated in a memo that $BTC could potentially rise to $500,000 in the long term if investor access improves and volatility decreases.
Standard Chartered predicts that Bitcoin will reach $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028. It was last traded at $98,241, up 1.6%.
**My comment:** Jeff previously predicted that Bitcoin would reach $125,000 by the end of 2024, and the actual price reached $108,000. I would say his prediction is somewhat acceptable. However, regarding the annual predictions, I believe they need reconsideration; otherwise, they may follow the same fate as previous ones.
I am not against a radical shift in Bitcoin's cycle, but I see it continuing its current trend for now: a peak every 4 years and a bottom every 4 years, with progressively higher peaks and troughs.
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