Emre Yumlu 
Global banking giant Standard Chartered has released an optimistic outlook for Bitcoin as 2025 progresses. According to the latest report by the bank’s head of digital asset research, Geoff Kendrick, BTC is expected to reach $135,000 by the end of the third quarter and could potentially surpass $200,000 before the year ends.
The Halving Cycle May No Longer Define the Trend
Kendrick suggests that Bitcoin’s price action is no longer closely tied to traditional halving cycles. Historically, BTC has seen notable corrections roughly 18 months after each halving. However, with the most recent halving in April 2024, this pattern appears to be shifting.
The key reason? Unlike previous cycles, the current market is witnessing strong ETF inflows and increased corporate treasury accumulation. These new demand drivers are believed to be powerful enough to support Bitcoin’s continued upward trajectory.
Standard Chartered Eyes $500K by 2028
Looking further ahead, Standard Chartered maintains a long-term bullish stance. The bank forecasts Bitcoin could reach as high as $500,000 per coin by 2028, supported by increasing institutional adoption and tightening supply-demand dynamics.
Correction Risks Remain on the Table
While the outlook remains positive, Kendrick also cautions about potential price corrections toward the end of Q3 and beginning of Q4. The psychological impact of past halving cycles may still influence short-term volatility in the crypto markets.
In summary, Standard Chartered’s projection underlines a significant shift in the Bitcoin investment landscape, with institutional demand playing a growing role in price formation and long-term market structure.
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