Standard Chartered’s digital assets research lead Geoffrey Kendrick reiterated his $200,000 year-end price projection for Bitcoin on October 2, citing emerging macroeconomic factors that could propel the cryptocurrency to new heights. In client communications, Kendrick identified two primary catalysts driving this optimistic outlook: sustained institutional investment through exchange-traded fund (ETF) channels and potential market impacts from the ongoing U.S. government budgetary impasse.
The research note emphasized that Bitcoin’s current market positioning suggests imminent breakout potential, with institutional capital flows through approved investment vehicles creating substantial buying pressure. Kendrick’s analysis indicates that the government shutdown scenario may paradoxically benefit digital assets as traditional market uncertainties drive investors toward alternative store-of-value instruments.
This reaffirmation comes amid growing institutional interest in cryptocurrency markets, with Standard Chartered maintaining one of the most bullish official price targets among major financial institutions. The bank’s research team continues to monitor regulatory developments and macroeconomic indicators that could influence Bitcoin’s trajectory through the final quarter of the year, maintaining confidence in their substantial upside projection despite recent market volatility.
