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Bitcoin's Price Plunge and Recovery: Analysts See Bullish Future

Coin WorldThursday, Feb 6, 2025 2:05 pm ET
1min read

Bitcoin's Price Drop and Recovery: Analysts Predict a Bullish Future

Bitcoin, the world's largest cryptocurrency by market capitalization, experienced a sharp drop in price recently, plummeting to $96,400. This sudden decline raised concerns among investors, but top analysts remain optimistic about the cryptocurrency's long-term prospects.

According to a recent report by Standard Chartered, the price of Bitcoin is expected to reach $500,000 by 2028. The bank's global head of digital asset research, Geoffrey Kendrick, attributed this bullish outlook to increased investor access and decreasing market volatility. He believes that the approval of U.S. spot Bitcoin ETFs has improved investor access to the asset, while the maturing of these ETFs will lead to less volatility in the future.

Kendrick also highlighted two other important developments that may contribute to greater adoption of cryptocurrency by central banks: the repeal of the SAB 121 rule and Trump's executive order on the Digital Asset Reserve. Based on these factors, Kendrick predicts that the price of Bitcoin will reach $200,000 by 2025, $300,000 by 2026, $400,000 by 2027, and $500,000 by 2028. He expects the price to remain at this level until 2029.

While some analysts are skeptical of Standard Chartered's bullish forecast, others believe that the prediction is not entirely unrealistic. Crypto investor Thomas Kralow noted that while the prediction is bold, it is not completely unrealistic. CryptoRank also predicts that Bitcoin will reach new all-time highs in 2025, as central banks adopt it as a reserve currency, strengthening its long-term value.

Despite the recent price drop, analysts remain optimistic about Bitcoin's future. The cryptocurrency's long-term prospects are supported by increased investor access, decreasing market volatility, and the growing role of Bitcoin as a hedge against inflation and other economic issues. As the cryptocurrency continues to gain mainstream acceptance and institutional investment, its price is expected to rise accordingly.

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bottomline77
02/06
$BTC ETF approval = more player access = less volatility. Makes sense, but will we really see $500k by 2028?
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vanilica00
02/06
$BTC moon soon? 🚀 ETFs are game-changer.
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whoisjian
02/06
@vanilica00 Think $BTC can hit $500k?
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Overlord1317
02/06
Central banks hopping on board? Bitcoin's going mainstream faster than I expected.
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DanielBeuthner
02/06
Standard Chartered's call on $BTC sounds ambitious, but who underestimated crypto's growth so far? 🚀
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yodalr
02/06
@DanielBeuthner Ambitious? Underestimating crypto is risky, bro.
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alvisanovari
02/06
Standard Chartered's call: bold, but not crazy.
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AbuSaho
02/06
Bitcoin's dip to $96k wasn't scary if you've seen $AAPL's wild rides. Stay calm, focus long-term.
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Alert-Reveal5217
02/06
CryptoRank thinks central banks will jump on board, driving new highs by 2025. Not a bad bet.
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mrkitanakahn
02/06
$500k by 2028? Bold prediction, but crypto's always full of surprises. Anyone else thinking it's possible?
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theamykupps
02/06
ETFs approved? Less volatility? Sounds like the big boys are getting comfy with BTC. 🤑
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PlentyBet1369
02/06
My strategy: Hold $BTC, diversify with $ETH, and a bit of $TSLA. Ride the waves, avoid FOMO.
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PunishedRichard
02/06
Skeptics? Always around. But Kralow says $200k by 2025 isn't unrealistic. HODL and watch.
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TheMushroomGuy
02/06
Market's shaky, but analysts holding strong on $BTC. Inflation hedge still relevant. Keep stacking if you believe.
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FTCommoner
02/06
Repealing SAB 121 and Trump's digital asset order could boost adoption. Central banks watching closely it seems.
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LonnieJaw748
02/06
Regulatory moves are Bitcoin's secret weapon.
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Surfin_Birb_09
02/06
Bitcoin's volatility is just part of the game. HODLing for the long-term 🚀
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