Bitcoin Drops 36%, but Optimism Emerges: Forecasts See $500,000 by 2030

Although Bitcoin has dropped by more than 30% from its all-time high,

there are forecasts that by 2030, it could reach per coin.

Standard Chartered, a UK-based bank, has described this recent downturn

"as merely a short-term correction, with the long-term bullish trend remaining intact."

▶ "The decline is just a correction"

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In a recent report, Standard Chartered set Bitcoin's long-term target price at $500,000.

Although the target date was postponed from 2028 to 2030,

the long-term upside potential remains unchanged.

Standard Chartered stated that "compared to the correction seen after the launch of ETFs, this decline is not significant,"

"and the market's underlying strength remains robust."

▶ Why $500,000?

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Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered,

"The allocation of Bitcoin in global portfolios is still low," he said.

In other words, both institutional and individual investors "have yet to fully invest in Bitcoin."

He added that "long-term buying through ETFs will become a key driver of supply and demand going forward,"

reinforcing the long-term bullish outlook.

▶ Short-term correction, long-term direction unchanged

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Standard Chartered has revised its short-term (next year) Bitcoin forecast

down from the previous $300,000 to $150,000.

This is due to the completion of large-scale purchases by digital asset treasury companies.

However, the bank emphasized that "this is a temporary correction, and the $500,000 target remains valid."

▶ The market's focus is on ETFs

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Experts are looking to ETF inflows and global investor participation

as the key factors determining Bitcoin's future direction.

He Yi, Co-CEO of Binance,

"With increased participation from institutional investors and pension funds, the likelihood of a sharp decline has decreased," he said.

Prices are volatile, but optimism remains.

As per Standard Chartered's forecast, the $500,000 era by 2030 may come
Bitcoin once again stands on the 'trust testing ground' of the market.

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