Bitcoin Price Forecast, Prediction: Analysts Target $150,000 As BTC Nears $80k

The Bitcoin price has surged 24% in August, with Standard Chartered targeting $100,000 and Bernstein $150,000 as institutional flows revive the bull case.

The Bitcoin to US Dollar (BTC/USD) exchange rate jumped back towards $78,600 on Monday after one of its strongest weekly advances in years, putting the cryptocurrency within touching distance of $80,000.

Bitcoin has gained 23.7% in August and reached $79,176 at its monthly high, a dramatic reversal from the sub-$63,000 levels seen little more than a week ago.

The rally has also reopened a forecast debate that looked rather fanciful when Bitcoin was languishing around $60,000 earlier this summer.

Standard Chartered still sees $100,000 by the end of 2026, Bernstein is sticking with a much more aggressive $150,000 target, while Citi's more cautious 12-month base case stands at $82,000.

What has changed rather abruptly is the flow picture.

The US Treasury's decision to expand purchases of longer-dated government bonds helped weaken the Dollar and revive the idea that Bitcoin can trade as a hard asset when confidence in conventional policy comes under pressure.

Standard Chartered's Geoff Kendrick called the Treasury move “exactly the type of thing Bitcoin loves” and now says there is a risk that the bank's $100,000 year-end forecast is actually “too low”.