#Bitcoin #StandardChartered #Cryptocurrency #ETF #Ethereum #BTC #ETH #DigitalAssets
In a remarkable revision of its future outlook on the cryptocurrencies market, British multinational bank Standard Chartered has notably increased its Bitcoin price prediction by a significant 50%, now estimating that the preeminent digital currency will reach a valor of $150,000 by the close of 2024. This bullish stance is further accentuated by their projection that Bitcoin will ascend to an astounding $250,000 by 2025, eventually stabilizing at about $200,000 to conclude the bull cycle. This anticipation is grounded in a deep analysis juxtaposing Bitcoin’s trajectory with that of gold, particularly post the introduction of exchange-traded funds (ETFs) in the United States that track the precious metal’s performance, suggesting a similar bullish trend could unfold for Bitcoin with the maturation and mainstream acceptance of cryptocurrency ETFs.
Digging deeper into Standard Chartered’s rationale, the bank draws parallels between the influx of ETFs in the gold market and the prospective impact on Bitcoin’s valuation. A substantial part of this hypothesis rests on the successful launch and ensuing popularity of Bitcoin ETFs, which, according to their analysis, have already seen inflows surpassing $12 billion scarcely two months post-launch. The authors of the investment report opine that Bitcoin has the potential to catapult to $250,000 by 2025, should the ETF inflows reach a mid-point forecast of $75 billion, coupled with continued acquisition of the asset by reserve managers. This is a noteworthy increase from earlier predictions and reflects the bank’s optimistic outlook on the digital asset’s future, underpinned by factors such as Bitcoin halving events and regulatory approvals for ETFs that could entice substantial capital flows ranging between $50 billion to $100 billion within a span of a year.
Aside from its pronounced optimism towards Bitcoin, Standard Chartered also forecasts a bright horizon for Ethereum, predicting that it might hit the $8,000 mark by the end of 2024 and sail further to reach $14,000 by 2025. This prediction relies on the anticipation of Ethereum ETFs attracting around $45 billion in inflows during their initial year, contingent upon approval from regulatory bodies like the U.S. Securities and Exchange Commission (SEC). The bank expects the ETH-to-BTC price ratio to revert to the 7% level characteristic of the period between 2021 and 2022, correlating with their projected Bitcoin price of $200,000 at the end of 2025. These bold forecasts not only underscore the confidence Standard Chartered places in the growth of digital assets but also hint at a wider acceptance and integration of cryptocurrencies into the traditional finance ecosystem.
Comments are closed.