The cryptocurrency market has been struggling with fluctuations lately. However, the new Bitcoin forecast from Standard Chartered Bank will excite investors. The bank published its year-end forecast for Bitcoin and Ethereum. He also published very high price predictions for 2025. These predictions point to the adoption of cryptocurrencies by institutional investors. It is also based on factors such as the entry of new investment instruments into the market.
Bitcoin prediction from the famous bank
Standard Chartered Bank (STAN) has significantly revised its year-end price forecast for Bitcoin (BTC). Thus, he pointed out a bullish outlook for the world’s leading cryptocurrency. The bank noted in an emailed investment note Monday. In particular, it raised its target from $100,000 to a much more optimistic figure of $150,000 by December 2024. But that’s not all. Standard Chartered also predicts a potential peak of $250,000 for Bitcoin in 2025 before settling at $200,000.
ETF effect on Bitcoin
This bullish forecast is based on several key factors. The bank draws a parallel between the recent launch of spot Bitcoin ETFs in the US and the historical impact of gold ETFs on the price of gold. Standard Chartered believes a similar dynamic will emerge for Bitcoin. Therefore, he believes that entries into these new investment instruments will increase the price. They point to a strong correlation between past ETF inflows and Bitcoin price increases. They also suggest that a similar trend will continue.
“The gold analogy, both in terms of ETF impact and optimal portfolio mix, remains a good starting point for predicting the ‘correct’ BTC price level over the medium term,” the note said. The statement was included. Analysts at Standard Chartered went further. Because they suggest that if the midpoint forecast of $75 billion in ETF inflows materializes, or if major reserve managers such as central banks begin accumulating Bitcoin, a temporary rise to $250,000 in 2025 will become a distinct possibility.
What’s next for Ethereum?
cryptokoin.com As we reported, the optimism of Standard Chartered, a well-known bank, extends beyond Bitcoin. The bank expressed its thoughts about the moves of the US Securities and Exchange Commission (SEC). The bank predicts that the SEC could greenlight the Ether (ETH) ETF by May 23 of this year. This could trigger significant inflows, estimated at around $45 billion in the first year, and potentially push Ethereum’s price to $8,000 by the end of 2024, more than double its current trading price of $3,570.
Looking ahead, Standard Chartered expects the price ratio between Ethereum and Bitcoin to return to historical levels. “In 2025, we see the ETH-BTC price ratio rising to the 7% level that has prevailed throughout much of 2021-22,” the bank said in a separate note. said. Based on end-2025 predictions for Bitcoin at $200,000, this means the Ethereum price will be $14,000.
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