Breaking the Pattern: Standard Chartered's Shocking $135,000 Bitcoin Price Prediction That's Defying Historical Trends

Standard Chartered Predicts Bitcoin Could Reach $135,000 Soon

In a surprising forecast that has captured the attention of crypto investors worldwide, Standard Chartered Bank has predicted that Bitcoin could reach a price of $135,000 in the near future. This bullish outlook comes from Geoff Kendrick, the bank's Global Head of Digital Assets Research, who suggests that Bitcoin's current price movements are deviating from historical patterns in a way that signals significant upward potential.

Breaking from Historical Patterns

According to Standard Chartered's analysis, Bitcoin is not following its typical post-halving behavior. Historically, Bitcoin has experienced price declines approximately 18 months after a halving event. However, Kendrick argues that the current cycle is showing different characteristics.

"Bitcoin has broken away from the pattern where prices tend to fall 18 months after a halving," notes Kendrick in his analysis. This deviation from established patterns has become a key factor in the bank's optimistic price projection.

The Institutional Investment Factor

A major driver behind Standard Chartered's bullish outlook is the increasing institutional adoption of Bitcoin. The approval and successful launch of spot Bitcoin ETFs in the United States earlier this year has created new avenues for traditional investors to gain exposure to Bitcoin without directly holding the cryptocurrency.

These ETF products have seen substantial inflows, indicating growing institutional interest in Bitcoin as a legitimate asset class. Standard Chartered's analysis suggests that this institutional adoption trend is just beginning and could continue to fuel price appreciation.

Macroeconomic Context

The bank's forecast also takes into consideration the broader macroeconomic environment. With global economic uncertainties and inflation concerns persisting in many regions, Bitcoin's position as a potential hedge against traditional financial system risks appears to be strengthening.

Additionally, the anticipation of potential interest rate cuts by central banks could create more favorable conditions for risk assets, potentially including Bitcoin.

Short-Term Targets

While the $135,000 projection represents Standard Chartered's longer-term outlook, the bank also suggests that Bitcoin could reach $100,000 by the end of 2024. This would represent a significant increase from current price levels and suggests that the bank expects considerable upward momentum in the coming months.

Not Without Risks

Despite the optimistic forecast, it's important to note that Bitcoin remains a volatile asset. Standard Chartered's prediction comes with inherent uncertainties, and several factors could potentially impact Bitcoin's price trajectory:

• Regulatory developments in major markets
• Macroeconomic shifts and monetary policy changes
• Technological developments or security concerns in the cryptocurrency space
• Changes in institutional sentiment toward digital assets

A Changing Perception

Perhaps most notable about Standard Chartered's forecast is what it represents for Bitcoin's standing in the financial world. For a major international bank to publish such bullish price targets indicates the growing legitimacy of Bitcoin as an asset class worthy of serious consideration by traditional financial institutions.

This shift in perception has been gradual but accelerating, with more banks and financial institutions establishing dedicated digital asset research teams and offering cryptocurrency-related services to clients.

Looking Forward

As Bitcoin continues to navigate its post-halving phase, market participants will be watching closely to see if Standard Chartered's prediction proves accurate. The $135,000 price target represents significant upside potential and would establish new all-time highs for the leading cryptocurrency.

Whether this target will be reached—and when—remains to be seen, but Standard Chartered's analysis adds to a growing body of institutional research suggesting that Bitcoin's long-term trajectory continues to point upward despite short-term volatility.