Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, has expressed renewed confidence in his long-term prediction that Bitcoin (CRYPTO: BTC) will reach $200,000 by the end of 2025,

Bitcoin tumbled below $79,000 on Monday, extending its Sunday decline as fears of a recession loom. The cryptocurrency sank about 5% over the past 24 hours, and was trading at around $78,527 midday, marking a more than 13% decline over the past five days.

As of March 6, the U.S. government treats Bitcoin as a sovereign reserve asset, akin to gold or foreign currencies. XRP, Solana, Cardano and Ethereum