While investors are now waiting for a rally after a difficult 2022, the famous bank Standard Chartered analysts Ethereum (ETH) announced his prediction.
According to the news of The Block, Standard Chartered Bank said Ethereum has the potential to reach $8,000 by the end of 2026.
The report, written by Geoffrey Kendrick, head of crypto research at Standard Chartered, included the following statements:
“We think Ethereum’s established dominance in smart contract platforms, along with emerging uses in gaming and tokenization, has the potential to push ETH to $8,000 by the end of 2026 (5x its current price of $1,600).
The Bitcoin halving, which will take place in April 2024, will have a positive impact on all cryptocurrencies, especially Ethereum, the second largest cryptocurrency.
As a result, we think potential regulation and spot ETFs in the US will benefit ETH as much as BTC.
At this point, all these factors could potentially push the Ethereum price to $4,000 by the end of 2024; this price is still below Ethereum’s previous peak price of $4,866, achieved in late 2021.
“We expect $8,000 by the end of 2026.”
Kendrick finally said, ETH He stated that the $8,000 level specified for the bank is seen as the first step on the way to the long-term forecast range between $26,000 and $35,000, which the bank previously stated.
Standard Chartered analysts said in their previous report: of Bitcoin He stated that they thought it could reach $50,000 in 2023 and $120,000 by the end of 2024.
*This is not investment advice.
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