Bitcoin At $88,500 ? What Standard Chartered Sees Coming

Bitcoin could soar to $88,500 this weekend, according to Standard Chartered. Indeed, far from a mere bullish prediction, this projection is part of a complete reassessment of the role of the asset. According to the bank, BTC no longer mimics gold. It now behaves like a leading technology asset, capable of weathering macroeconomic shocks. In a strained market, this stance redraws the lines of an asset undergoing a significant strategic transformation.

Standard Chartered forecasts an imminent rise in bitcoin

Geoff Kendrick, global head of crypto research at Standard Chartered, made an important statement that has caught the attention of crypto investors. According to him, bitcoin could rise up to $88,500 as early as this weekend.

This prediction is based on the direct analogy between bitcoin’s trajectory and that of major American technology stocks.

“The strongest performers were MSFT and BTC. A similar scenario is expected today for spot bitcoin and tech futures,” he stated.

For the British bank, this dynamics positions bitcoin not as a gilded relic of crisis but as an asset synchronized with the performance of leading tech companies.

The following elements are put forward by Standard Chartered to support this projection:

• A strong correlation with the performance of tech stocks, notably Microsoft, perceived as a leading indicator of bitcoin’s behavior ;
• The resilience of bitcoin despite recent macroeconomic tensions and the fall of traditional markets ;
• The anticipation of a positive market response to the upcoming release of US employment data, a volatility catalyst often favorable to alternative assets ;
• A short-term strategic projection targeting a price zone of $88,500 as a potential breakout threshold.

Kendrick’s forecast comes at a pivotal moment. Indeed, the upcoming release of US employment data could massively influence market dynamics. A report exceeding expectations would bolster the US economy, but in a context of widespread distrust towards traditional finance, this could paradoxically enhance the attractiveness of bitcoin as a liquid and reactive alternative.

Bitcoin : from technology to geopolitical hedge

Beyond the purely financial reading, Standard Chartered goes further and introduces a geopolitical dimension in its latest analysis of bitcoin. The banking group states that crypto could now play a strategic hedge role in the face of growing geopolitical tensions, particularly relating to the international isolation of the United States.

In this context, bitcoin is seen as an alternative safe-haven asset, politically unaligned, capable of emancipating itself from traditional sovereign logics. According to the bank, this could enhance its attractiveness to economic actors seeking to diversify their reserves or avoid exposure to the dollar.

This strategic reassessment contrasts with the classic representations of bitcoin as a mere speculative asset or “digital gold.” Standard Chartered emphasizes a shift in status, with BTC potentially becoming a tool of monetary neutrality in an increasingly fragmented world.

The bank even mentions a crisis of confidence regarding global institutions, where bitcoin could embody a form of stability amid instability, precisely due to its lack of centralized control and algorithmic transparency.

Standard Chartered’s forecast of a possible rise in bitcoin to $88,500 this weekend underscores the growing importance of crypto in the global financial landscape. Thus, investors are encouraged to closely monitor macroeconomic and geopolitical developments, as well as the performance of tech stocks, which could influence bitcoin’s trajectory.

As bitcoin continues to gain legitimacy as an investment asset, its correlation with technology sectors and its potential role as a hedge against geopolitical risks could enhance its appeal to a significant investor base.