Standard Chartered Predicts Bitcoin Price of $200,000 by 2025
The multinational bank Standard Chartered has released a bullish price prediction for Bitcoin. The bank forecasts that the price of Bitcoin will reach $200,000 by the end of 2025, based on the assumption that Bitcoin spot ETFs will be approved. Analysts from Standard Chartered, Geoff Kendrick and Suki Cooper, predict that the approval of Bitcoin spot ETFs could attract inflows of $50-100 billion in 2024. This means that between 437,000 and 1.32 million Bitcoin could be held in Bitcoin spot ETFs listed in the United States by the end of this year.
Bitcoin Price Forecast: 4.3x Increase by 2025
To reach the projected price of $200,000 by the end of 2025, Bitcoin will need to experience a price increase of 4.3 times compared to its current price of $47,000. Standard Chartered believes this is possible as the crypto-asset sector has shown faster growth compared to other markets. The analysts also note that the price of gold ETPs increased by 4.3 times in approximately seven to eight years after their launch. They expect similar gains for Bitcoin but over a shorter period of one to two years due to the rapid development of the BTC ETF market.
Current Sentiment and Price
At the time of writing, Bitcoin is valued at $46,057, slightly lower than its recent high above $47,000. The positive expectations surrounding the decision on Bitcoin spot ETFs by the United States Securities and Exchange Commission have contributed to this pump. Despite a slight drop in sentiment from yesterday’s “Extreme Greed” level to today’s “Greed,” overall sentiment for Bitcoin remains positive.
Hot Take: Standard Chartered Predicts $200,000 Bitcoin Price by 2025
A new price prediction for Bitcoin from Standard Chartered bank suggests that the cryptocurrency could reach $200,000 by the end of 2025. This optimistic forecast is based on the assumption that Bitcoin spot ETFs will be approved, attracting significant inflows. According to analysts at Standard Chartered, this price target is achievable given the rapid growth and potential of the crypto market. To reach this level, Bitcoin would need to experience a 4.3x increase from its current price. While there may be slight fluctuations in sentiment and price in the short term, overall sentiment remains positive for Bitcoin’s future.
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