Leading cryptocurrency Bitcoin While it renewed its ATH by rising above $ 73,000, it could not hold on there and fell to $ 64,000 levels over the weekend due to the selling pressure it encountered.
Now, while investors are wondering in which direction BTC will move, the UK-based giant bank Standard Chartered increased its year-end 2024 BTC price forecast.
According to the news of Coindesk, the giant bank He increased his year-end Bitcoin price target by 50% to $150,000.
Moreover of Bitcoin Stating that it will reach $ 250,000 in 2025, bank analysts said that they expect BTC to settle at $ 200,000 after this ATH.
The analysts said they based their analysis on a comparison of the gold price after the launch of gold ETFs in the US and the correlation between spot Bitcoin ETF inflows and the BTC price.
“We think gold ETF history, both in terms of spot Bitcoin ETF impact and optimal portfolio mix, remains a good starting point for predicting the ‘correct’ BTC price level over the medium term.
“At this point, if ETF inflows reach our midpoint estimate of $75 billion and/or reserve managers buy BTC, we see a high probability of exceeding the $250,000 level in 2025.”
Standard Chartered analysts also noted the SEC’s May spot Ethereum Stating that they think you might approve your ETF “The London Stock Exchange’s recent announcement that it will accept BTC and ETH-backed exchange-traded bond applications in the second quarter has raised the possibility that the US SEC will approve ETH ETFs on May 23. At this point, if ETF approval comes in May, it will lead to inflows of up to $45 billion in the first 12 months and ETH will reach approximately $8,000 by the end of 2024.” said.
Analysts last predicted in 2025 ETH-BTC stating that the price ratio will rise again to the 7% level seen throughout most of 2021-22. “Given our $200,000 price prediction for Bitcoin by the end of 2025, this prediction would mean that the ETH price will also reach $14,000.” said.
*This is not investment advice.
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