Bitcoin Could Reach $500,000 by 2030... Optimism Emerges Despite 36% Drop from All-Time High

SC: "Short-Term Decline Is Just a Breeze"
Low Allocation in Global Portfolios
Optimistic Outlook for $500,000 Breakthrough by 2030

There is an optimistic outlook that Bitcoin will reach $500,000 per coin by 2030. This analysis comes at a time when Bitcoin has fallen by about 36% from its all-time high recorded in October, dropping to around $80,500 by the end of November.

British bank Standard Chartered (SC) recently set a long-term price target for Bitcoin at $500,000 in its latest report. While the target date has been pushed back by two years to 2030, SC assessed the recent decline as "a short-term correction that does not undermine the long-term bullish trend."

Geoffrey Kendrick, Head of Digital Asset Research at SC, stated in an investor note, "Our analysis of global portfolios shows that Bitcoin's allocation remains low," adding, "Given this, it is entirely possible for Bitcoin to reach $500,000 in the long term." Regarding the recent correction, he said, "Compared to previous declines following the launch of exchange-traded funds (ETFs), the current volatility is not significant." He also identified capital inflows through ETFs as a key driver for future price increases, emphasizing, "Long-term buying will be the decisive supply-demand factor."

As of the morning of December 12, according to global cryptocurrency market tracker CoinMarketCap, Bitcoin was trading at $92,423, up 0.67% from the previous day. Recently, the market has seen increased short-term volatility ahead of the U.S. Federal Reserve's interest rate decision and other key events.

SC also lowered its Bitcoin forecast for next year from $300,000 to $150,000. This adjustment reflects the fact that aggressive purchases by Digital Asset Treasury (DAT) companies have largely concluded. However, the bank maintains that the long-term target of $500,000 is still achievable, even though the timeline has been pushed from 2028 to 2030.

Market experts analyze that Bitcoin's future trajectory depends on ETF capital inflows and the participation of global investors. He Yi, Co-Founder of Binance, said in a recent interview, "Unlike previous cycles, the increased involvement of institutional investors and pension funds has reduced the likelihood of a sharp decline."