Standard Chartered's Head of Digital Assets Research, Geoff Kendrick, has predicted that Bitcoin (BTC) could reach $500,000 by the end of 2028. Kendrick attributes this bullish forecast to increased investor access and decreasing volatility.
Since January 1, BTC has climbed from around $94,000 to $98,486 as of February 5. Kendrick believes that from the latter half of 2025 through 2028, Bitcoin could enter another parabolic growth phase. He forecasts BTC reaching $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and ultimately $500,000 by the end of 2028.
The approval of spot Bitcoin exchange-traded funds (ETFs) in the US in January 2024 significantly simplified investor access to BTC. The ETFs have attracted a net $39 billion of inflows so far, supporting the theory of pent-up demand being unleashed by increased access. Additionally, as Bitcoin's price and market capitalization grow, its volatility has been decreasing.
Donald Trump's January 23 order that the administration evaluate a potential national digital assets stockpile is also important, as this could encourage other central banks to consider Bitcoin investments. If Trump's administration moves forward with establishing a national digital assets reserve, Bitcoin's volatility could decline even further. This could attract traditionally risk-averse investors who were previously hesitant due to BTC's price swings.
On-chain data also suggests that Bitcoin 'whales' - investors controlling crypto wallets with large BTC holdings - are positioning themselves for a bullish price trajectory, signaling confidence in BTC's long-term growth under the Trump regime. At press time, BTC trades at $98,486, down 1.3% in the past 24 hours.