Standard Chartered: Bitcoin Halving No Longer Influences Price

Analysts at Standard Chartered forecast a rise in the leading cryptocurrency to $200,000 by the end of 2025, with an interim target of $135,000 in the third quarter.

The primary drivers of this growth, according to experts, are inflows into spot ETFs and corporate purchases of Bitcoin. Jeff Kendrick, head of digital asset research, noted that these two factors were absent in previous market cycles.

In his view, the traditional halving cycle model no longer applies. Previously, the price of digital gold would decline roughly 18 months after the halving of miner rewards. The analyst believes that due to new drivers, this pattern has been disrupted.

In the second quarter, total Bitcoin purchases through ETFs and corporate reserves amounted to 245,000 BTC. The bank expects this figure to increase in the third and fourth reporting periods.

However, Kendrick does not rule out volatility at the end of the third quarter due to investor concerns anticipating a correction based on the old model.

Back in July, Standard Chartered assessed the impact of corporate Bitcoin strategies on digital gold.