Financial institution Standard Chartered predicts a significant surge in Bitcoin’s price to reach as high as $200,000 by year-end. The forecast cites growing institutional investment and favorable market conditions as key drivers for this optimistic outlook. Geoff Kendrick, Head of Digital Assets at Standard Chartered, emphasizes the potential for Bitcoin to act as a hedge against volatility and capitalize on the increasing influence of institutional investors in the cryptocurrency market. The prediction is grounded in historical trends, with October and November historically exhibiting substantial gains for Bitcoin. Kendrick’s analysis suggests that this could further propel Bitcoin’s value, potentially challenging traditional assets like gold. The potential surge in price may also result in increased scrutiny from regulatory bodies, which could impact the cryptocurrency’s market dynamics as technological advancements continue to support Bitcoin’s growth.