British multinational bank Standard Chartered has increased its prediction for Bitcoin’s price by 50%, forecasting that the leading digital asset will be worth $150,000 by the end of 2024.
According to a CoinDesk report, the bank expects BTC to hit a record high of $250,000 by 2025 before rounding off the bull cycle around $200,000.
BTC to Hit $150K in 2024
Standard Chartered derived its prediction from comparing BTC with gold and its performance after exchange-traded funds (ETFs) tracking the performance of the yellow metal were launched in the United States. The bank analyzed the correlation between Bitcoin ETFs and the price of BTC, identifying the effects of the funds’ inflows on the value of digital asset.
The authors of the investment report said there is a good chance BTC could skyrocket to $250,000 in 2025 if Bitcoin ETF inflows touch the mid-point estimate of $75 billion and reserve managers continue to acquire the asset. At the time of writing, spot Bitcoin ETF inflows had exceeded $12 billion just over two months after launch.
Standard Chartered’s latest forecast is 50% up from the $100,000 BTC price predicted in December 2023. Driven by the upcoming Bitcoin halving and ETF approvals, BTC could attract $50 billion to $100 billion worth of flows within a year, according to the bank. The financial institution also forecasted that BTC could be worth $200,000 by the end of 2025.
With BTC touching a new high of $73,900 last week, the asset’s performance has surpassed the bank’s expectations. Notably, BTC had fallen to $68,000 at the time of writing.
Ether at $8,000?
Besides Bitcoin, Standard Chartered also expects Ether (ETH) to soar to $8,000 by the end of 2024 and $14,000 by 2025. Ether’s prediction is based on estimated inflows of $45 billion expected in the first 12 months of Ethereum ETFs’ trading if the U.S. Securities and Exchange Commission (SEC) approves their launch by May 23.
“In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22. Given our estimated BTC price level of USD 200,000 at end-2025, that would imply an ETH price of $14,000,” the bank stated.
Meanwhile, ETH changed hands at $3,590 at the time of writing, per data from CoinMarketCap.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
Good info. Lucky me I reach on your website by accident, I bookmarked it. Seo Hizmeti Skype : live:by_umut
Thank you great posting about essential oil. Hello Administ .Seo Hizmeti Skype : live:by_umut
Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across.儿童色情
I really love to read such an excellent article. Helpful article. Hello Administ . Seo Hizmeti Skype : live:by_umut
Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me.兒童色情
Thank you great posting about essential oil. Hello Administ . 国产线播放免费人成视频播放
After all, what a great site and informative posts, I will upload inbound link – bookmark this web site? Regards, Reader.儿童色情片
Great post thank you. Hello Administ . 国产线播放免费人成视频播放
Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut
Good info. Lucky me I reach on your website by accident, I bookmarked it. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut
Thank you for content. Area rugs and online home decor store. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut
Thank you for great content. Hello Administ. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut