Geoff Kendrick of Standard Chartered remains bullish on Bitcoin despite last year’s sputtering end for cryptocurrencies. Kendrick sees potential for significant growth, projecting a 55% surge for Bitcoin in 2026. However, valuing cryptocurrencies remains challenging due to their lack of traditional financial backing.

Kendrick has adjusted his price target for Bitcoin, citing a more cautious outlook on digital asset treasury companies. The rise of Bitcoin digital asset treasury companies, which borrow capital to purchase Bitcoin, may be reaching a peak. Kendrick still sees potential in spot-Bitcoin exchange-traded funds due to increased institutional interest in crypto.

Bitcoin, often likened to digital gold, has shown resilience amid geopolitical tensions and economic uncertainties. While the crypto market is less bullish than last year, Bitcoin remains a favored option for investors seeking diversification and potential returns. Kendrick emphasizes the importance of a long-term perspective when considering Bitcoin investments.

Read more at Yahoo Finance: 1 Top Cryptocurrency to Buy Before It Soars 55% This Year, According to Standard Chartered’s Geoff Kendrick