Standard Chartered’s Geoff Kendrick Forecasts $500K Bitcoin Target Amid Brutal Sell-Off

Standard Chartered's Geoff Kendrick predicts that despite the market sell-off, Bitcoin will reach $500k by the end of Trump's presidency.
By Pooja Khardia
Published: 28 Feb, 2025 | 08:09:19 AM GMT
Standard Chartered's Geoff Kendrick Forecasts $500K Bitcoin Target Amid Brutal Sell-Off

Highlights

  • Standard Chartered's Geoff Kendrick foresees Bitcoin's price hitting $500k by the end of Donald Trump's presidency.
  • Despite the market sell-off, Kendrick believes that growing institutional interest, adoption, and better clarity on regularity will fuel this rally.
  • Bitcoin struggles at $79k, but the Santiments report shows traders indulged in 'buy the dip.'

With another massive liquidation and sell-off event, the crypto market has lost $860M. Out of these, nearly half were liquidated on BTC, but Geoff Kendrick’s trust in this digital asset remains maintained, as he forecasts a massive rally. More importantly, he doubled his initial Bitcoin price prediction, claiming to witness $500k by the end of Donald Trump’s presidency. Let’s dive into that.

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Inside Geoff Kendrick’s $500K Bitcoin Price Prediction: What’s Driving It?

Geoff Kendrick, the head of digital assets research at Standard Chartered, is a renowned name in the crypto industry. He is among the top crypto supporters and has often presented forecasts. In a recent interview with CNBC, Kendrick reiterated his belief that institutional adoption and regulatory clarity will propel BTC to new heights.

He pointed out the growing institutional interest in digital assets and that major financial institutions like BlackRock and Standard Chartered, which are working toward integrating BTC into traditional finance, are the driving forces behind massive growth.

Geoff Kendrick

More importantly, Kenrick believes that volatility and market turbulence will settle over time as large investors approach the industry.

What we need are traditional financial players, like Standard Chartered, BlackRock, and others that have ETFs now to really step in,” Kendrick stated.

Among these discussions, the highlight of the interview is his prediction that the Bitcoin price would be $500k by the end of Donald Trump’s presidency. Before this, he also predicted that BTC would hit $200k by the end of 2025,

That should add to that medium term, top-side potential, which for me is bitcoin up to $200,000 this year, and $500,000 before Trump leaves office.

This statement came as Kendrick discussed how clearer regulations, particularly in the U.S., will open the doors for institutional investors, who will be key drivers of BTC’s price surge. He also discussed regulations as the solution to security risk, citing the recent Bybit hack.

As the industry becomes more institutionalized, it should be safer,” Kendrick noted, highlighting how security risks—like the recent $1.4 billion Bybit hack—could be mitigated through regulated financial entities.

Geoff Kendrick’s forecast considers the growing adoption, the emergence of institutional investors, and better regularity clarity. However, the ongoing market turbulence cannot be ignored due to such bullish Bitcoin price predictions.

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Bitcoin’s Brutal Sell-Off and Market Conditions

Geoff Kendrick has attempted to shape investors’ trust in this asset, but the most significant current correction cannot be ignored. Although Bitcoin achieved the ATH of $109.1k, it plunged to $80k this week, which is the biggest correction in months.

This crypto market crash has resulted in the liquidation of $860M, with $707M in long positions. This happened as the BTC ETF witnessed record-breaking outflows of $938M and growing tensions over Trump’s tariff introduction.

Donald Trump Bitcoin price Crash

However, crypto influencers still call it a buying opportunity, boosting investor sentiments.

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Market Sentiment: Investors Are More Confident This Time

Despite the market sell-off, the Santiment report claims that crypto traders are optimistic despite the price crash. The firm concludes the market discussion on various social media platforms and claims that investors view this dip as a prime buying opportunity.

Traders are showing a very high level of confidence that this dip is ‘the one to buy, ‘” the report stated.

Buy the dip

Crypto personalities like Geoff Kendrick, Michael Saylor, and Matt Houghan have played a significant role. The founder of Microstrategy even advised investors to sell their kidneys if necessary but hold their BTC.

Sell a kidney if you must, but keep the Bitcoin, posted Michael Salor

Although this statement received backlash, he is known for such rational advice. Additionally, Matt Houghan claimed that this was the right time to buy BTC.

Matt Houghan

Notably, such posts and their advice on buying the dip affected investors’ sentiments. However, Santients’ report also warned that excessive optimism can be a threat, as it often leads to further correction.

Will Geoff Kendrick’s $500k Prediction Come True?

Since Donald Trump’s win in the US election, the price of Bitcoin has surged exponentially, showcasing impressive gains. Many analysts, including Standard Chartered’s Geoff Kendrick, have presented a bullish outlook for this digital asset in 2025 and beyond.

Although the market is experiencing short-term volatility, confidence among market enthusiasts is still high. As Kendrick’s prediction is based on adoption and regularity, the $200k target may be achieved in 2025 and higher in the future.

However, this is just an anticipation, and the market’s uncertainty could bring different results.

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Frequently Asked Questions (FAQs)

1. Who is Geoff Kendrick?

Geoff Kendrick is the head of digital assets research at Standard Chartered Bank and a well-known crypto analyst.

2. Why Geoff Kendrick believes Bitcoin would hit $500k?

Kendrick cites growing institutional interest, regulatory clarity, and the financial institutes integrating Bitcoin as the key drivers of Bitcoin's rally to $5.0k.

3. Why did Bitcoin's price crash today?

The price of Bitcoin crashed today due to various events, such as Donald Trump's tariff discussion, Bitcoin ETF outflows, and global market volatility.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
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