British multinational bank Standard Chartered has predicted that the Bitcoin price is going to reach $500,000 in the long term.
It will take the flagship cryptocurrency roughly three years to achieve this milestone, according to the banking institution.
Standard Chartered has taken note of various improvements to investor access that have already taken place.
As reported by U.Today, the U.S. Securities and Exchange Commission recently resigned the controversial SAB 121 rule, paving the way for major banks to offer crypto custody services.
Meanwhile, the SEC recently set up a task force that is meant to introduce clear cryptocurrency regulation.
Bitcoin's volatility could fall
Standard Chartered has also predicted that Bitcoin's volatility might continue decreasing in the future due to improving financial infrastructure as well as the maturation of the fledgling ETF sector.
The 30-day Bitcoin volatility index recently surged to a new year-to-date peak of 2.04 after the cryptocurrency experienced abnormal volatility earlier this week.
On Feb. 3, the price of Bitcoin slipped to as low as $91,530 before completing a V-shaped recovery. The cryptocurrency recorded a rare $10,000 daily candle, meaning that high volatility continues to persist despite broader institutional adoption.
$200,000 by end of 2025
The banking institution has also predicted that the price of Bitcoin could end up reaching the $200,000 milestone as soon as this year.
Bitcoin is currently changing hands at $98,736, according to CoinGecko data. It is down 9.2% from its record high of $108,786 which was achieved 16 days ago.
Denys Serhiichuk
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov