Standard Chartered Bank: Forecasts that BTC will rise to $150,000 by the end of the year and reach a high of $250,000 next year
Standard Chartered Bank (STAN) has raised its year-end forecast for Bitcoin prices to $150,000 from $100,000. The bank also predicts that BTC will next reach a high of $250,000 before stabilizing around $200,000.
Standard Chartered’s analysis is based on a comparison with gold prices following the introduction of gold exchange-traded funds (ETFs) in the United States, and the correlation between ETF inflows and BTC prices.
Standard Chartered said the U.S. Securities and Exchange Commission may approve an Ethereum ETF on May 23, leading to inflows of up to $45 billion in the first 12 months, with ETH reaching around $8,000 by the end of 2024.
In a separate report, Standard Bank said: “By 2025, we see the price gap between ETH and BTC falling back to the 7% level seen for much of 2021-22. We estimate that the BTC price level at the end of 2025 will be $200,000, which means the ETH price is $14,000.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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