Bitcoin’s Next Big Move? Why a 55% Surge Could Be Just the Beginning

After touching an eye-watering $126,000 last year, Bitcoin (BTC) looked unstoppable. Then reality hit. Fears around the global economy, interest rate uncertainty, and heavy selling by Bitcoin whales triggered a sharp pullback that rattled investors.

Yet, instead of collapsing, Bitcoin held its ground—and that resilience is exactly why some experts believe the next major move could be higher.

One of them is Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, who still sees Bitcoin as a buy, with as much as 55% upside even after trimming his long-term forecast.

In crypto, sentiment can flip overnight. Unlike traditional stocks, cryptocurrencies aren’t backed by earnings or cash flow, making valuation far trickier. That’s why Kendrick recently cut his 2026 Bitcoin price target from $300,000 to $150,000.

Sounds bearish? Not really.

Even at $150,000, Bitcoin would still deliver around 55% upside from current levels (as of mid-January). The downgrade wasn’t about losing faith in Bitcoin itself—but about cooling expectations around one specific driver of demand.

Kendrick’s caution centers on Bitcoin Digital Asset Treasury companies (DATs)—firms that borrow money to buy Bitcoin and hold it on their balance sheets.

This trend took off in 2020 when Michael Saylor’s Strategy (formerly MicroStrategy) pioneered the playbook. The results were explosive. Strategy’s stock soared as Bitcoin surged, inspiring copycats across the market.

But there was a catch.

Many of these stocks traded at huge premiums compared to the actual value of the Bitcoin they held. Investors began asking a simple question:

As those valuations collapsed, Strategy’s stock plunged, and so did the appeal of DATs. According to Kendrick, the era of DATs aggressively buying Bitcoin may be over, removing one source of demand—but not breaking the bull case.

While DAT demand cools, another force is stepping in: spot Bitcoin ETFs.

ETFs have cracked open the door for institutions that previously couldn’t—or wouldn’t—touch crypto. Add to that a pro-crypto political climate, with regulatory easing and executive actions reducing uncertainty, and Bitcoin suddenly looks far more accessible to big money.

This institutional pipeline could become the next major growth engine for BTC.

Bitcoin is often called “digital gold”, a hedge against inflation and instability. While it hasn’t always behaved that way, recent events suggest the narrative may be strengthening.

Over the past month, Bitcoin has tracked gold closely, particularly amid geopolitical shocks and political upheaval. In times of uncertainty—rising debt, global tensions, and institutional distrust—Bitcoin’s fixed supply and decentralized nature are starting to matter more.

The crypto environment isn’t as euphoric as early last year—but that might be a good thing.

Bitcoin has proven it can survive major sell-offs, adapt to changing narratives, and remain relevant during global stress. With geopolitical risks and U.S. debt concerns unlikely to disappear, Bitcoin’s role as a diversifier is becoming harder to ignore.

Predicting exact price targets in crypto is risky. But one thing is clear:
Bitcoin remains the crypto asset with the strongest long-term confidence.

For investors willing to think long term, holding some Bitcoin could still be a smart move—especially in a world where uncertainty is the only constant.