- Bitcoin is gaining strength as investors look for safety from rising tariff risks in global markets.
- Standard Chartered expects Bitcoin to act as a hedge while trade tensions increase across economies.
- Geoffrey Kendrick sees Bitcoin holding firm as U.S. isolation concerns grow among market watchers.
According to Geoffrey Kendrick, head of digital assets research at Standard Chartered, Bitcoin could soon act as a hedge against tariff risks. He links rising U.S. isolationism to growing concerns about holding traditional fiat currencies. As global trade tensions escalate, Bitcoin appears to gain ground as an alternative asset.
Investors are closely watching Bitcoin’s movements, considering its potential as a defensive play. Kendrick points to increasing tariff threats as a key driver shifting market sentiment. He believes Bitcoin benefits from these developments, offering protection as uncertainty surrounds fiat-based assets.
Bitcoin Holds Key Support Amid Price Swings
Bitcoin’s value fell to under $80,000 yesterday, prompting temporary market-wide worries. Bitcoin recovered to establish price stability at the $76,500 level. Kendrick highlights this level as significant, as it marks the top of the November 6 daily candle. That point came immediately after the U.S. election, adding technical relevance.
Bitcoin currently trades near $79,411, showing resilience despite broader market pressures. Since tariff-related headlines emerged, Bitcoin has outperformed several high-profile tech stocks. Only Microsoft and Google have stayed ahead, while Bitcoin continues to lead other members of the so-called Magnificent Seven.
Kendrick’s view has evolved in response to recent developments. He earlier described Bitcoin as a hedge against U.S. isolationism. Now, he frames it more precisely as a hedge against tariff risks, reflecting the latest global shifts.
Market Outlook Points to Recovery
Despite a recent crypto market selloff, Kendrick expects the downturn to fade soon. According to his assessment, Bitcoin might rebound toward its earlier $84,000 value as long as traditional market conditions stay constant. As trade barriers increase, Bitcoin investors maintain positive outlooks about long-term profitability in the cryptocurrency market.
Standard Chartered maintains a very optimistic outlook regarding Bitcoin’s market performance. Kendrick foresees Bitcoin will achieve a value of $200,000 during the final quarter of 2025. Standard Chartered forecasts Bitcoin to reach $300,000 by 2026 before potentially further expanding through 2028.
Beyond Bitcoin, Kendrick has also expanded his focus to other digital assets. He recently initiated coverage on Avalanche, following its Etna upgrade. Kendrick sees its token, AVAX, potentially rising to $250 by the end of 2029 from its current price of around $15.
Ethereum faces a different path, with Kendrick lowering his 2025 price target to $4,000. He attributes this adjustment to increased competition, particularly from Base, which has gained market share. Ether trades near $1,577, down sharply over the past 24 hours.
According to Kendrick, Bitcoin’s evolving role reflects the shifting landscape of global trade risks. Investors continue to track these developments as market conditions unfold.
