“I think we are going to see more pain and a final capitulation period for digital asset prices in the next few months,” Global Head of Digital Assets Research Geoffrey Kendrick stated. “The macro backdrop is unlikely to provide support until we near Warsh taking over at the Fed.” He added:
Kevin Warsh’s anticipated arrival follows President Donald Trump’s nomination of him on Jan. 30 to succeed Jerome Powell as Federal Reserve chair, with Warsh expected to assume the role in May pending Senate confirmation. A former Fed governor from 2006 to 2011, Warsh has expressed support for forward-looking economic models over lagging data, indicated that artificial intelligence-driven productivity gains could warrant interest rate cuts, and promoted a leaner central bank balance sheet alongside broader institutional restructuring.
Kendrick stated:
He added, “Other digital assets are likely to broadly follow the majors; we adjust our forecasts for them accordingly.”
FAQ ⏰ What is Standard Chartered’s new bitcoin price forecast? Standard Chartered lowered its year-end bitcoin forecast to $100,000, with a potential near-term drop to around $50,000. How low could ethereum fall according to the revised outlook? The bank sees ethereum potentially bottoming near $1,400 before recovering later in the year. Why does Geoffrey Kendrick expect further digital asset downside? Kendrick cited macro weakness and potential ETF selling pressure as drivers of additional near-term declines. What are Standard Chartered’s long-term bitcoin and ethereum targets for 2030? The bank maintained its 2030 projections of $500,000 for bitcoin and $40,000 for ethereum.
