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- Bitcoin shows resilience amid market turmoil, with Standard Chartered positioning it as a hedge against rising tariff risks.
- Despite recent price dips, bullish long-term forecasts predict Bitcoin will reach $500,000 by 2028, driven by geopolitical shifts.
Bitcoin is once again facing downward pressure, marking a 7% decline in the past week and 11% in the past month. Standard Chartered, a strong supporter of Bitcoin, believes Bitcoin could be a major gainer from rising tariff risks. As the economy gets tenser, crossing geopolitical boundaries, with the signs of the US drawing back into isolationist stance, the bank is positive on hude crypto adoption ahead.
Geoffrey Kendrick, head of digital asset research at the bank, recently shared his outlook. In a note sent out Sunday, he stated:
There is a lot of noise at the moment, but as per my Friday email, I think bitcoin will become a hedge against tariff risks this time around.
Bitcoin briefly dipped below the $80,000 mark over the weekend, settling around $77,000 afterward. Despite the downturn, Kendrick doesn’t see red flags. He pointed to $76,500, the peak formed right after the U.S. election on Nov. 6, as a key level of support.
Bitcoin’s Resilience Outshines Mag7 During Market Turmoil
While some investors panic at volatility, Kendrick holds firm in his belief that bitcoin is handling the current selloff far better than many top-tier stocks. The so-called Mag7—tech giants often watched closely by analysts—have been largely outpaced by Bitcoin, which trails only Microsoft and Google since trade-related headlines began making waves.
In a previous note, Kendrick described bitcoin as the “strongman,” outperforming most of those tech stocks during the recent market slump. The bank now sharpens its narrative, evolving Bitcoin’s role from a general hedge against isolation to a more targeted response to growing tariff risks.
This isn’t just speculative cheerleading. Kendrick’s long-term projections are bold but consistent. He maintains that Bitcoin could hit $200,000 by the end of 2025, then leapfrog to $300,000 in 2026, $400,000 in 2027, and finally stabilize at $500,000 through 2028 and beyond. The numbers may seem far-fetched to some, but he’s not alone in making big calls about crypto’s future value.
Avalanche Sees a Surprise Boost, Ether Takes a Hit
While Bitcoin basks in Kendrick’s spotlight, Ethereum finds itself on shakier ground. Last month, Kendrick slashed his 2025 ether target by 60%, bringing it down to $4,000. He attributed the revised estimate to shifts in market control, with Base gaining ground rapidly. At the time of writing, Ether is sitting at $1,500—down over 15% in the past day.
However, it’s not all gloom across altcoins. Avalanche received a rare and bullish forecast from Kendrick, who sees its native token AVAX reaching $250 by 2029. Currently priced around $15, that marks a potential tenfold gain. The optimism is credited to Avalanche’s recent Etna upgrade, which has made it more developer-friendly and cost-effective.
So even as traditional markets show signs of fragility, crypto assets like Bitcoin and Avalanche appear to be carving out stronger narratives. In Kendrick’s view, the recent correction in digital assets won’t last long—especially if broader market fears don’t spiral further.
