Standard Chartered Bank Predicts Bitcoin Price to Reach $200,000 by 2025
Standard Chartered Bank has made a bold prediction that the price of Bitcoin will surpass $200,000 by the end of 2025. In a note to investors, Geoffrey Kendrick, the head of financial research at Standard Chartered Bank, stated that if ETF-related inflows materialize as expected, a price level closer to $200,000 is possible. Bitcoin ETFs track the current price of Bitcoin and provide investors with exposure to the cryptocurrency without needing to buy and store it themselves.
Several Investment Firms Await ETF Approval
A number of investment firms including BlackRock, Grayscale, Ark, iShares, Bitwise, VanEck, Wisdomtree, Invesco, Fidelity, and Franklin have Bitcoin ETFs in the final stages of approval. Kendrick’s prediction aligns with their previous estimate of $100,000 by the end of 2024.
ETF Approval Key for BTC Price Upside
Kendrick believes that the approval of a Bitcoin ETF will be a crucial factor in driving BTC price growth. He sees this as a significant moment for institutional money to participate in Bitcoin and expects approval to lead to substantial inflows and price increases for the cryptocurrency.
Bloomberg Analyst Predicts Billions in Investments
Bloomberg senior ETF analyst Eric Balchunas also shares optimism regarding Bitcoin ETFs. He predicts that a Bitcoin ETF could attract $10 billion in its first year and potentially reach $30-50 billion over three years. Balchunas adds that in the long term, it could settle around $100 billion within five to ten years.
Odds of SEC Approving Bitcoin ETF High
On Twitter, Balchunas expressed a 95% confidence level that the SEC will approve a Bitcoin ETF in January. While there is always some uncertainty, he believes the chances are high for approval.
Hot Take: Bitcoin ETFs Poised to Drive BTC Price Growth
With Standard Chartered Bank and Bloomberg analysts predicting significant price growth for Bitcoin if ETFs are approved, the cryptocurrency market is eagerly awaiting regulatory decisions. The introduction of Bitcoin ETFs could mark a turning point for institutional investment in Bitcoin and potentially attract billions of dollars in investments over the coming years. As the crypto world eagerly waits for these approvals, all eyes are on the SEC and its decision-making process.
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