Catenaa, Sunday, April 13, 2025- Standard Chartered predicts that bitcoin will serve as a hedge against rising tariff risks, particularly as “U.S. isolationism” shapes market sentiment.
Geoffrey Kendrick, the bank’s global head of digital assets research, stated in a Sunday note that increasing tariffs could lead to greater risks associated with holding fiat currencies, thereby benefiting bitcoin as an alternative store of value.
Kendrick highlighted that bitcoin, despite recent volatility, has outperformed major tech stocks since tariff-related headlines emerged. Bitcoin recently dropped below $80,000 but was seen trading around $77,000 as of Sunday, with the $76,500 price point noted as a key support level.
Kendrick’s bullish outlook suggests that, barring broader risk-off movements in traditional markets, bitcoin could return to its previous close of approximately $84,000.
Kendrick, a long-time bitcoin advocate, has forecasted a price target of $200,000 for bitcoin by the end of 2025, with projections reaching $500,000 by 2028. In addition to his bitcoin optimism, Kendrick is positive on Layer 1 blockchain Avalanche, predicting a 10-fold increase in its native token, AVAX, by 2029. Conversely, he has reduced his 2025 price target for Ethereum by 60%, citing growing market share for competing projects.
