Standard Chartered Bank: Bitcoin End-of-Year Price Target Lowered from $200,000 to $100,000

BlockBeats News, December 9th, according to Decrypt's report, as Bitcoin's performance deteriorated in the fourth quarter and its upward trend stalled, the UK-based multinational bank and wealth management institution Standard Chartered Bank significantly lowered its multi-year price target for this leading cryptocurrency.

According to a report on Tuesday, the bank now expects Bitcoin to reach $100,000 by the end of 2025, down from the previous $200,000 target. Although its long-term target remains at $500,000, the timeline has been pushed back from 2028 to 2030.

The bank's reason for the downward revision is a reassessment of demand prospects. Standard Chartered Bank analyst Geoffrey Kendrick stated that the waning of major sources of demand and institutional adoption via exchange-traded fund (ETF) at a slower pace than expected prompted the adjustment of its Bitcoin price prediction.