Bitcoin to $500,000? Here’s when to expect the price to hit the new record

Core Viewpoint - Standard Chartered has delayed its Bitcoin price target of $500,000 by two years, now expecting it to be reached by 2030 instead of 2028, due to three structural changes in the market [1][2]. Group 1: Price Forecast Adjustment - The bank's revised forecast comes after Bitcoin's price dropped nearly 40% from its all-time high of $150,000 on October 6, bringing it down to $90,000 [2]. - The decline in Bitcoin's price is considered within normal expectations for drawdowns since the launch of US spot exchange-traded funds two years ago [2]. Group 2: Reasons for the Shift - End of Digital Asset Treasury Buying: There is a perception that treasury companies have ceased buying Bitcoin, as their valuations no longer support further expansion [3][5]. - Decline in Premiums: Companies like Strategy and Metaplanet have seen their equity trade at significant discounts to their Bitcoin holdings, with unrealized losses nearing $1 billion, limiting their ability to raise capital for further Bitcoin purchases [4][5]. - Halving Cycle Disruption: The traditional four-year boom-bust cycle associated with Bitcoin, characterized by price surges following halving events, is perceived to be broken, as the expected price patterns have not held in the current cycle [6][7].