Standard Chartered Gives 3-Year Bitcoin Outlook, Predicts Surge to $500,000

Crypto-friendly banking giant Standard Chartered has predicted that Bitcoin will surge multiple times to half a million dollars in three years.In an emailed analysis, the Standard Chartered head of crypto research, Geoffrey Kendrick, speculated a meteoric rise in Bitcoins price, specifically predicting a surge to $500,000. The seasoned market expert hinged his bold prediction on growing access and diminishing volatility on the flagship crypto asset.Factors to Drive Price AppreciationKendrick asserted that the staggering uptrend would come from increased access to Bitcoin. The Standard Chartered exec highlighted Donald Trumps impact in opening the asset up for global exposure.The U.S. president has continually flirted with the sector since he declared interest in running for a second term in the White House. Under his administration, Trump promised to allow digital assets to thrive by creating clear regulations and a strategic Bitcoin reserve.Meanwhile, Kendrick also pointed to the January 2024-launched US Bitcoin spot exchange-traded funds (ETFs) as an incredible exposure source. The traditional investment vehicle quickly gained traction after its market debut, raking in a cumulative net inflow of $40.67 billion so far.He believes spot ETFs have attracted institutional investors to the Bitcoin market and expects more from the products. Comparatively, he predicted that Bitcoin would see a similar effect as gold when an ETP tracking the precious metals performance debuted.For context, gold grew 4.3 times in seven years after the launch of exchange-traded products mirroring the asset class in 2004. As a result, Kendrick inferred that the maturing Bitcoin ETF would contribute to a similar surge in two years.Bitcoins Dwindling Volatility to Sustain UptrendMeanwhile, the Standard Chartered executive also predicted that reduced Bitcoin volatility would contribute immensely to the meteoric rise. The pioneering cryptocurrency is notorious for its intense price fluctuation, as seen on Monday.However, Kendrick expects the price volatility to cool as the Bitcoin ETFs mature. He insinuated that as large capital flows into Bitcoin, the asset could gain more stability, which is necessary for a sustainable long-term upward trajectory.Trumps Friendly Stance to Drive UpsurgeMoreover, the report stated that Trumps warm embrace would steer Bitcoin in the right direction. The president recently signed an executive order to create a digital asset working committee that would make America the crypto capital of the world.Furthermore, he has freshened things in the regulatory sphere, appointing Paul Atkins as the new Securities and Exchange Commission (SEC) chair and Mark Uyeda to act in the capacity pending his assumption of office.Under the new administration, the SEC has repealed the Staff Accounting Bulletin (SAB121), giving financial institutions access to hold digital assets in their balance sheets.Meanwhile, the growing momentum that the United States would create a national Bitcoin stockpile is drawing global attention. Kendrick noted that the initiative will steer other countries to look Bitcoins way, expanding adoption.Based on these points, Standard Chartered predicted that Bitcoin will reach $200,000 by the end of 2025, $300,000 next year, $400,000 the year after, and $500,000 by the year-end of 2028.