Standard Chartered Lifts Bitcoin and Ethereum Price Forecasts
If you’re following the crypto market, you’ll be interested to know that Standard Chartered, a major global bank, has raised its price forecasts for Bitcoin and Ethereum. The bank now predicts Bitcoin’s price could reach $150,000 by the end of 2021 and a staggering $250,000 by 2025. Meanwhile, Ethereum is expected to hit $8,000 by 2024 if the U.S. Securities and Exchange Commission (SEC) approves spot Ether ETFs.
Standard Charteredβs Optimistic View
Standard Chartered’s analysts have compared Bitcoin exchange-traded funds (ETFs) to gold, noting a significant increase in funds flowing into the market. This comparison has led to the bank’s revised forecasts for Bitcoin. Geoff Kendrick, the bank’s digital assets head, emphasizes the importance of these comparisons in predicting Bitcoin’s future price movements.
- Bitcoin’s price expected to reach $150,000 by end of 2021 and $250,000 by 2025.
- Analysts comparing Bitcoin ETFs to gold ETFs to forecast price movements.
- Increased influx of funds into the market influencing the price predictions.
Ethereum Price Outlook
While Standard Chartered has revised its Bitcoin forecast, Ethereum’s year-end target remains unchanged. The bank projects Ethereum could reach $8,000 by 2024, pending SEC approval of spot Ether ETFs. With Ethereum currently trading at $3,568, there is significant potential for growth, especially considering upcoming improvements.
- Ethereum’s price outlook remains positive.
- Potential for Ethereum to reach $8,000 by 2024.
- Dependent on SEC approval of spot Ether ETFs.
Upcoming Boosts
Exciting developments, such as the Ethereum Dencon upgrade and potential approval of a spot Ethereum ETF by the SEC, could drive significant investment into Ethereum. This influx of funds is similar to what we’ve seen with Bitcoin ETFs and could range from $15-45 billion in the first year post-approval.
Looking Ahead to 2025
Standard Chartered’s forecast for 2025 includes a resurgence in the ETH-to-BTC price ratio, aiming for a $14,000 ETH price. While the bank is confident in Ethereum’s long-term growth supported by ecosystem developments, not everyone shares this optimism. Richard Teng, Binance’s new CEO, predicts Bitcoin will hit $80,000 by year-end, citing supply dynamics and sustained demand.
- Predictions for a $14,000 ETH price by 2025.
- Differing opinions on Bitcoin’s potential growth.
- Opportunities for investors to capitalize on crypto market potential.
Seizing the Opportunity
With major financial institutions like Standard Chartered adjusting their forecasts, investors have a unique chance to benefit from the cryptocurrency market’s potential. The rise of Bitcoin ETFs and regulatory advancements indicate a thriving market that attracts both traditional and crypto-savvy investors.
Hot Take: U.S. Financial Giants Adjust Crypto Forecasts
With all the volatility in the space right now, big financial players in the U.S. are updating their forecasts for top digital coins. One such player, Standard Chartered, a global banking titan, has recently lifted its price forecasts for Bitcoin and Ethereum, reflecting the dynamic nature of the crypto world.
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