Standard Chartered Thinks That Bitcoin (BTC) Will Hit $125,000 By The End Of The Year And $200,000 In 2025, But One Industry Player Believes The True Target Is A $250 Trillion Market Cap

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Bitcoin (BTC), the world's preeminent cryptocurrency, has provided validation to its ongoing bull cycle by coming within a whisker of the psychologically relevant $100,000 price level. Seasoned analysts, including those at Standard Chartered, still expect the cryptocurrency to transition to a six-figure price in the next few weeks. Meanwhile, in keeping with the bull market tradition of pegging outrageously fanciful price targets on Bitcoin, MicroStrategy's Michael Saylor believes that the cryptocurrency is heading for further gains of ~140x within the next two decades!

#BITCOIN COULD HIT $125K BY YEAR-END, $200K IN 2025

Bitcoin could extend falls in the near-term, but Standard Chartered still expects to cryptocurrency to rise to $125,000 by the end of the year, analyst Geoff Kendrick says in a note. There's been a large increase in bitcoin…

— *Walter Bloomberg (@DeItaone) November 26, 2024

To wit, Standard Chartered analyst Geoff Kendrick has now penned a dedicated investment note on Bitcoin, postulating that the world's preeminent cryptocurrency is likely to reach the $100,000 price level before the end of the year, and hit the $200,000 target some time in 2025.

However, before doing so, Kendrick expects Bitcoin to fall below the $88,700 price level:

"There's been a large increase in bitcoin buying from exchange-traded funds and Microstrategy since the U.S. presidential election but the average price of these purchases is $88,700."

Of course, the most immediate impetus for Bitcoin's ongoing supercharged price action came in early November when the crypto-friendly Trump administration 2.0 became a firm reality.

🚨 Trump's team preps for a White House crypto role! 🚀

A new office to oversee digital asset policies
Crypto council in the works
Coinbase’s Brian Armstrong & Cardano’s Charles Hoskinson consulted

U.S. crypto innovation might hit a new high! 🇺🇸💰 #Crypto #Blockchain #Trump

— Chain Debrief (@ChainDebrief) November 21, 2024

Since then, there has been a veritable onslaught of pro-crypto headlines, including a dedicated office in the White House to oversee digital asset policies as well as a new Crypto council, the brightening prospects of a federal Bitcoin reserve, and the possibility of state-led Bitcoin strategic reserves, where Pennsylvania seems to have taken a lead by introducing a new bill that would authorize the creation of a $700 million BTC reserve.

Moreover, the incoming Trump administration 2.0 is widely expected to repeal SAB 121, which is a guidance document provided by the SEC on digital assets that requires all custodians to list crypto assets on their balance sheet and create a corresponding liability of an equal value, thereby precluding banks from dealing in Bitcoin and other crypto assets.

SPOT BITCOIN ETFs CROSS $100B IN ASSETS IN JUST 10 MONTHS pic.twitter.com/Jh8d8EfNao

— Wall St Engine (@wallstengine) November 21, 2024

Meanwhile, the intrinsic bullish factors for Bitcoin remain as robust as ever. Consider the fact that the spot Bitcoin ETFs can now boast of a cumulative Asset Under Management (AUM) metric of $100 billion!

MICROSTRATEGY TO SELL $2.6B OF NOTES UPSIZING FROM PREVIOUS $1.75B SALE$MSTR WILL USE THE PROCEEDS TO BUY BITCOIN $BTC

— Evan (@StockMKTNewz) November 20, 2024

And, MicroStrategy (MSTR) - which is now a levered crypto play - keeps accumulating Bitcoin, having acquired 386,700 BTC to date. In fact, MSTR recently became the most traded stock in the US, leaving the likes of NVIDIA and Tesla behind.

MSTR nuking 20% in one day was the warning sign. Supply saturation locally as we encountered the biggest Bitcoin sell wall ever at 100K. We will be back, but some time is needed. The nocoiner mind isn't ready for 6 figure Bitcoin. Once $100K is taken with strength, the next $100K…

— Charles Edwards (@caprioleio) November 26, 2024

However, as Bitcoin's price has tumbled toward the low-$90Ks in the past few days, MicroStrategy shares have experienced an outsized slump in keeping with their high-beta exposure to BTC.

Yet, the broader environment still remains conducive. As per a new study, Bitcoin typically moves in the direction of the global M2 supply a whopping 83 percent of the time! And, as we recently noted, the global liquidity proxy has now turned positive for the first time since February 2021, and is playing a major role in boosting Bitcoin's price.

According to @saylor, Bitcoin's potential is $13 million by 2045. This would put $BTC's market cap at around $250 trillion versus $2 trillion today.

To put this in perspective, the world's GDP is currently $105 trillion, and the world's stock markets are $125 trillion. So, in 20… https://t.co/x56v99C5Hy

— Jim Bianco (@biancoresearch) November 21, 2024

Given the current manifestly bullish sentiment around Bitcoin, it is hardly a surprise that MicroStrategy's Michael Saylor has pegged a $13 million price tag on the cryptocurrency by 2045, which corresponds to a $250 trillion market cap!

$BTC There are 43 days left in 2024.

If you are a Bitcoin HODL'er, why wouldn't you hedge a little of your position with this fun wager?

Basically a +186 wager according to Polymarket's odds that it won't hit 6 figures by the end 2024.

But let's say if it does, you will still… pic.twitter.com/JgTH7GaKk8

— Heisenberg (@Mr_Derivatives) November 19, 2024

However, given the near-term uncertainty around Bitcoin's immediate price trajectory, some BTC holders are hedging their inherently bullish outlook by buying a Polymarket wager that the cryptocurrency won't hit the much-touted $100,000 before the end of 2024. Smart move indeed!

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