Bitcoin price prediction: Analyst explains why BTC USD price could hit $500,000 - here's what crypto traders need to know

Bitcoin USD price prediction: Even after a tough start to the year, some analysts believe Bitcoin could be heading toward massive long-term gains, potentially reaching $500,000 per coin.

Bitcoin Falls 20%: What’s Behind the BTC USD Price Decline

So far in 2026, Bitcoin hasn’t had an easy run. The cryptocurrency has dropped around 20% this year and was hovering near $69,000 as of Tuesday. But despite the recent decline, Geoffrey Kendrick of Standard Chartered believes the bigger picture could be very different.

Geoffrey Kendrick’s Bitcoin USD Forecast: $50K Dip Before Rally

Kendrick points out that Bitcoin often behaves similarly to growth stocks on the Nasdaq, as per The Motley Fool report. That means if tech companies report weak earnings or if the Federal Reserve does not ease monetary policy, Bitcoin could face more selling pressure.


In fact, his near-term outlook is cautious. He sees Bitcoin possibly falling to $50,000, which would be about a 32% drop from current levels, as per The Motley Fool report. However, he also notes that the current downturn appears less severe than past crypto market crashes.

BTC USD Outlook: Will Bitcoin Reach $100,000 This Year? Expert Insights

Despite this, Kendrick expects a rebound, predicting Bitcoin could climb back to $100,000 by the end of the year.

The long-term bullish case comes down to scarcity and growing demand. Bitcoin has a fixed supply of just 21 million coins, which is why many investors refer to it as “digital gold.”

Unlike traditional rare assets such as art or collectibles, Bitcoin has historically been driven by retail investors. But that is starting to change. Institutional interest is rising, especially with the introduction of spot Bitcoin ETFs by banks, making it easier and more cost-effective for large investors to gain exposure.

Kendrick’s view, shared by Cathie Wood of Ark Invest, is that as more institutional money flows into Bitcoin, its valuation could expand significantly over time.

Bitcoin as Digital Gold: Scarcity and Demand Explained

There is, however, a major assumption behind these bold predictions. Bitcoin is often compared to gold, but the gap between them is still huge.

Gold’s market value is estimated at around $34 trillion, while Bitcoin’s is about $1.4 trillion. For Bitcoin to match gold’s valuation, the implied price per coin would be roughly $1.6 million, assuming all 21 million coins are in circulation.

Bitcoin Price Prediction 2026: Can It Really Hit $500,000

That means the path to $500,000 and beyond depends heavily on whether Bitcoin can truly establish itself as a gold-like asset in global markets.

FAQs

Why has Bitcoin dropped in 2026?
It has fallen around 20% amid broader market pressures.

What is the short-term prediction for Bitcoin?
It could drop to $50,000 before recovering.