Standard Chartered Bank:
The Bitcoin price target for the end of the year has been reduced from $200,000 to $100,000
BlockBeats News, December 9, according to a Decrypt report, as Bitcoin's performance deteriorated in the fourth quarter and its upward trend halted, the multinational banking institution and wealth management firm Standard Chartered Bank has significantly lowered its price target for this leading cryptocurrency for several years. According to a report on Tuesday, the bank now expects Bitcoin to reach $100,000 by the end of 2025, down from the previous target of $200,000. Although its long-term target remains at $500,000, the timeline has been pushed back from 2028 to 2030. The bank attributed the downward adjustment to a reassessment of demand prospects. Standard Chartered Bank analyst Jeffrey Kendrick stated that the decline in key sources of demand and institutional adoption through exchange-traded funds (ETFs) at a slower pace than expected has led to the adjustment of Bitcoin price forecasts.
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