Standard Chartered's head of digital assets research, Geoffrey Kendrick, has emphatically reaffirmed a bold year-end price target for Bitcoin, projecting the cryptocurrency to hit an unprecedented $200,000. This ambitious forecast is primarily fueled by a potent combination of surging Bitcoin ETF inflows and the escalating impact of a looming U.S. government shutdown, which Kendrick believes will serve as significant catalysts for further price appreciation.
Key Catalysts Driving Bitcoin's Ascent
Kendrick highlights two primary drivers behind his optimistic outlook. First, robust net inflows into Bitcoin Exchange Traded Funds (ETFs) have already reached nearly $50 billion with several months remaining in the year, and he anticipates an additional $20 billion before year-end. This sustained institutional demand, even outpacing recent gold ETF inflows, underscores Bitcoin's growing recognition as a maturing financial asset. Second, a potential U.S. government shutdown is seen as a crucial tailwind. Unlike previous shutdowns, Bitcoin's current close correlation with "U.S. government risks" and Treasury term premiums positions it to directly benefit from political gridlock. Prediction markets suggesting a shutdown duration of 10 to 29 days further bolster the expectation that such an event would propel Bitcoin prices higher throughout the period.
Price Trajectory and Confidence
Building on these strong fundamentals, Kendrick forecasts Bitcoin to break past its all-time high within days and reach $135,000 in the coming weeks. The confidence in the $200,000 year-end target is largely predicated on the continued momentum of ETF inflows, with the projected additional $20 billion in demand being a critical factor. This outlook positions Bitcoin not just as a speculative asset, but as an increasingly intertwined component of the broader macroeconomic landscape, poised to benefit from both direct institutional investment and systemic economic uncertainties.
