Standard Chartered Raises Bitcoin Price Target to $150,000 😮🚀

Standard Chartered Raises 2025 Bitcoin Price Target to $150,000: Analysts

Analysts at British multinational banking giant Standard Chartered are increasing their Bitcoin (BTC) price forecast for 2025 by 50%. The analysts cite the success of Bitcoin exchange-traded funds (ETFs) launched earlier this year as a reason for their more optimistic outlook. The bank’s analyst, Geoff Kendrick, notes that the rapid inflows into ETFs have had a significant impact on the BTC price, leading them to raise their long-held price estimate from $100,000 to $150,000.

Inflows to Bitcoin ETFs

The total assets under management (AUM) in all Bitcoin ETFs now exceed $57.8 billion.
The massive amount of inflows to ETFs and the behavior of gold following their launch are reasons for increased bullishness on Bitcoin.
The bank is open to the possibility of an “overshoot” in BTC price, potentially reaching $250,000 if ETF flows remain strong and more institutions start allocating.

Previous Forecasts and Miners’ Impact

In July 2023, Kendrick predicted a $120,000 price target for Bitcoin in 2024.
Increased miner profitability per BTC mined could lead to reduced sell pressure and push BTC prices higher.
If miners decrease the amount of Bitcoins they sell per day from 900 to 180-270, it would reduce net BTC supply by roughly 250,000 bitcoins annually.

At the time of writing, Bitcoin is trading at $68,043.

Hot Take: Standard Chartered Raises 2025 Bitcoin Price Target to $150,000

Standard Chartered analysts have revised their Bitcoin price forecast for 2025, raising it by 50% to $150,000. The decision comes after the successful launch of Bitcoin ETFs earlier this year and the significant inflows into these investment vehicles. The analysts believe that the positive impact of ETFs on the BTC price justifies a more optimistic outlook for the cryptocurrency.

The increased inflows to Bitcoin ETFs and their resemblance to gold’s behavior following its ETF launch are factors that contribute to Standard Chartered’s bullishness on Bitcoin. The bank is even open to the possibility of an “overshoot” in BTC price, potentially reaching $250,000 if ETF flows remain strong and more institutions enter the market.

Analyst Geoff Kendrick, who made the revised price forecast, previously predicted a $120,000 price target for Bitcoin in 2024. His forecast was based on the potential for increased miner profitability, which would lead to reduced sell pressure and a higher BTC price. Kendrick explained that if miners decrease their daily BTC sales from 900 to 180-270, it would result in a net reduction in BTC supply of approximately 250,000 bitcoins per year.

These factors have prompted Standard Chartered to raise its long-held price estimate for Bitcoin from $100,000 to $150,000. However, Kendrick believes that an “overshoot” in price up to $250,000 is possible at some point in 2025 if ETF inflows continue and reserve managers start buying BTC.

Key Points:

Standard Chartered analysts increase their Bitcoin (BTC) price forecast for 2025 by 50%.
The success of Bitcoin exchange-traded funds (ETFs) launched earlier this year justifies a more optimistic outlook on BTC.
The total assets under management (AUM) in all Bitcoin ETFs now exceed $57.8 billion.
Increased inflows to ETFs and gold’s behavior following its ETF launch are reasons for increased bullishness on Bitcoin.
The bank is open to the possibility of an “overshoot” in BTC price, potentially reaching $250,000 if ETF flows remain strong and more institutions allocate to Bitcoin.
In July 2023, analyst Geoff Kendrick predicted a $120,000 price target for Bitcoin in 2024.
Increased miner profitability per BTC mined could lead to reduced sell pressure and push BTC prices higher.
If miners decrease the amount of Bitcoins they sell per day from 900 to 180-270, it would reduce net BTC supply by roughly 250,000 bitcoins annually.

Conclusion: Higher Price Forecast Reflects Positive Outlook

The decision by Standard Chartered analysts to increase their Bitcoin price forecast for 2025 reflects their positive outlook on the cryptocurrency. The success of Bitcoin ETFs and the significant inflows into these investment vehicles have contributed to this more optimistic stance. The analysts believe that the impact of ETFs on the BTC price justifies a higher price expectation. They are even open to the possibility of an “overshoot” in BTC price, potentially reaching $250,000 if certain conditions are met.

These factors highlight the increasing institutional interest in Bitcoin and its potential as a store of value. As more institutions allocate to Bitcoin and ETF flows continue, the cryptocurrency’s price could experience further upward momentum. However, it is important to note that market conditions can change rapidly, and investors should always conduct thorough research and consider their risk tolerance before making any investment decisions.