07.04.2025 21:33
Geoffrey Kendrick, the head of digital asset research at Standard Chartered, predicts that Bitcoin could serve as a hedge against U.S. isolationism and rising tariff risks. While Kendrick expects Bitcoin to reach $200,000 by the end of 2025, he also forecasts that the depreciating cryptocurrency could soon return to levels around $84,000.
Standard Chartered Bank predicts that Bitcoin could be a safe investment vehicle in the context of the United States' protectionist trade policies. The bank's global head of digital asset research, Geoffrey Kendrick, believes that the cryptocurrency will provide protection against increasing tariff risks. Kendrick also maintains his bullish forecast that Bitcoin could reach $200,000 by the end of 2025.
Standard Chartered Expert Reveals Bitcoin Prediction for 2028
Standard Chartered considers Bitcoin a safe haven amid the U.S. protectionist trade policies. The bank's global head of digital asset research, Geoffrey Kendrick, predicts that the cryptocurrency could gain value in the face of rising tariff risks.
Kendrick stated, "There is a lot of uncertainty in the market, but as I mentioned in my assessment on Friday, I believe Bitcoin will provide protection against tariff risks during this period." He also noted, "The U.S. isolationist policies are increasing the risks of holding fiat currency, and this will ultimately benefit Bitcoin."
Kendrick marked the peak of the daily candle formed on November 6, the day after the U.S. elections, at $76,500 as a significant support level. Acknowledging the market's decline, the expert pointed out that despite this, Bitcoin has performed better than most of the technology stocks known as the Magnificent Seven or Mag7, only falling short of Microsoft and Google following the tariff news earlier this week.
In his analysis last week, Kendrick described Bitcoin as a protective tool against "U.S. isolation" and emphasized that it has been more resilient than most technology stocks during the recent sell-off, making a "strong man" analogy. The expert's shift from the general concept of "U.S. isolation" to the more specific "tariff risk" protection reflects a change in his perspective on recent developments.
Kendrick also predicts that the recent sell-offs in the crypto market will likely slow down, and with a decrease in risk perception in traditional markets, Bitcoin could return to its closing value of around $84,000 on Friday.
The Standard Chartered expert had previously set a price target of $200,000 for Bitcoin by the end of 2025, placing him among those with bullish expectations. According to Kendrick's forecasts, Bitcoin will reach $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028, maintaining this level until 2029.
Regarding Ethereum, Kendrick takes a more cautious stance. Citing factors such as Base's increasing market share, he reduced his price target for Ether for 2025 by 60% to $4,000 last month. According to data from The Block, Ether has lost more than 15% of its value in the last 24 hours and is currently trading at around $1,500.