Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered on Wednesday predicted that Bitcoin BTC/USD could reach $500,000 before the end of Donald Trump's term.

Kendrick attributes this forecast to two key factors: improved investor access to Bitcoin under the current administration and a gradual decline in volatility

Standard Chartered’s Head of Digital Assets Research Makes Bullish Bitcoin Price Prediction

Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, has predicted that Bitcoin (CRYPTO: BTC) could reach $500,000 before the end of Donald Trump's term.

In a note to clients on Wednesday, Kendrick said two key factors are driving his bullish outlook: improving investor access to Bitcoin and a gradual decline in volatility.

"Access is improving under the Trump administration. Institutional inflows will continue to gather pace. This combination—more access, lower vol—is enough to drive Bitcoin to $500,000 before Trump leaves office,” he wrote, alluding to the launch of spot Bitcoin ETFs and expanding options markets.

Kendrick added that the growing adoption of digital assets is also evident from the institutional inflows into Bitcoin and Ethereum ETFs.

On Feb. 4, Bitcoin spot ETFs recorded a net inflow of $341 million, with BlackRock's IBIT ETF alone receiving $249 million. Meanwhile, Ethereum spot ETFs saw a net inflow of $308 million, marking the fourth consecutive day of positive flows for the asset.

These numbers highlight increasing confidence among institutional investors, despite recent market turbulence.

Kendrick noted that improving access through vehicles like ETFs is critical for Bitcoin's long-term trajectory, as it provides broader exposure for traditional finance participants.

"Bitcoin's long-term trajectory will be determined by the level of institutional demand for the remaining nine months of 2024. If we see another round of strong inflows, we could see Bitcoin prices rally further. However, if institutional interest wanes, the recent gains may be short-lived," he said.

Kendrick's bullish Bitcoin price prediction comes amid recent volatility in both traditional and crypto markets. The U.S.-China tariff war continues to dominate headlines, creating uncertainty across asset classes.

Bitcoin has shown resilience, holding above the $40,000 mark, but there are concerns about how geopolitical shocks may impact the asset.

"The delay in tariffs against Mexico and Canada has provided some relief to crypto markets," QCP Capital noted but cautioned that Bitcoin is still vulnerable to negative price shocks given the lack of near-term catalysts.

The firm also highlighted the ongoing development of regulatory frameworks, such as stablecoin legislation and a Strategic Bitcoin Reserve (SBR) task force, as long-term positives for the crypto industry.