Geoff Kendrick, head of digital assets research at Standard Chartered, remains optimistic about Bitcoin, setting a year-end price target of $150,000. According to Business Insider, Kendrick believes that Bitcoin’s price could still double this year.

Despite a recent downturn where Bitcoin slid 11% from its peak at about $73,000 in March, Kendrick attributes this pullback to slowing inflows into Bitcoin ETFs and rising tensions in the Middle East. However, he is confident in the market’s ability to bounce back, reiterating Standard Chartered’s price prediction.

Kendrick emphasized the cyclical nature of Bitcoin’s performance, especially after halving events which historically trigger price surges by reducing the new Bitcoin supply. He also forecasts significant growth in ETF investments, with nearly $12 billion flowing into the market since the approval of spot Bitcoin ETFs in January.

With the U.S. ETF sector maturing, Kendrick projects potential inflows of $50 billion to $100 billion over the next two years. Standard Chartered remains bullish on Bitcoin, predicting a rise to $250,000 by 2025, reflecting a broader belief in Bitcoin’s long-term success in financial markets.

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