Standard Chartered’s Bold Bitcoin and Ethereum Price Prediction: A Look Towards 2025
The post Standard Chartered’s Bold Bitcoin and Ethereum Price Prediction: A Look Towards 2025 appeared first on Coinpedia Fintech News
With the current volatility of the crypto market, financial institutions in the U.S. are revising their price targets for leading crypto coins. Standard Chartered, a prominent multinational bank, has recently raised its price forecasts for Bitcoin and Ethereum.
Let’s take a deeper look into the details here –
Standard Chartered’s Bitcoin Price Forecast
“Standard Chartered now predicts BTC price hitting $150,000 by the year-end and $250,000 in 2025,” Standard Chartered’s revised forecast announces as Bitcoin surged to a new all-time high last week, hitting over $73000.
The reason behind the bank’s analysis is clear. Analysts have parallely compared Bitcoin ETFs with gold ETFs due to the impact of massive capital inflows into the market through spot Bitcoin ETFs and portfolio optimisation.
Geoff Kendrick, Standard Chartered’s head of digital assets, emphasized the relevance of these comparisons in predicting BTC’s price trajectory.
Ethereum Price Outlook
Although SC has revised its year-end Bitcoin forecast, it has maintained its Ethereum year-end target. The UK-based MNC anticipates that ETH will hit $8,000 in 2024 if spot Ether ETFs become a reality with the approval of the U.S. Securities and Exchange Commission.
Currently trading at $3,568, we can say that Ethereum’s potential growth aligns with upcoming system developments. So, let’s clearly understand what is driving Ethereum’s price –
The bullish sentiment surrounding Ethereum stems from the Ethereum Dencun upgrade which took place on 13th March 2024, and the potential approval of a spot Ethereum ETF by the SEC.
These developments could lead to substantial inflows into Ethereum (just like Bitcoin ETFs), which is expected to reach $15-45 billion in the first 12 months post-approval.
Insight into 2025
Three months down 2024, let’ take a look at the insights into 2025.
Standard Chartered predicts a resurgence in the ETH-to-BTC price ratio, aiming for a $14,000 ETH price by 2025. Standard Chartered’s forecast highlights its confidence in Ethereum’s long-term growth prospects supported by developments in its ecosystem and the potential capability of the coin.
On the other hand, Richard Teng, the new CEO of Binance, anticipates that Bitcoin will cross the $80,000 mark by year-end. The reason for Teng’s lower year-end forecast is that he believes supply dynamics and sustained demand of Bitcoins will act as catalysts for further growth, but not so much as to push to price beyond $150k as expected by Standard Chartered.
With financial institutions like Standard Chartered revising their price targets for Bitcoin, investors may take this opportunity to not miss out on potential opportunity cryptocurrencies as lucrative investment opportunities. The growth of spot Bitcoin ETFs and regulatory advancements in the overall crypto market signals a prosperous market, enticing both traditional and crypto-native investors.
Read More
Standard Chartered’s Bold Bitcoin and Ethereum Price Prediction: A Look Towards 2025
The post Standard Chartered’s Bold Bitcoin and Ethereum Price Prediction: A Look Towards 2025 appeared first on Coinpedia Fintech News
With the current volatility of the crypto market, financial institutions in the U.S. are revising their price targets for leading crypto coins. Standard Chartered, a prominent multinational bank, has recently raised its price forecasts for Bitcoin and Ethereum.
Let’s take a deeper look into the details here –
Standard Chartered’s Bitcoin Price Forecast
“Standard Chartered now predicts BTC price hitting $150,000 by the year-end and $250,000 in 2025,” Standard Chartered’s revised forecast announces as Bitcoin surged to a new all-time high last week, hitting over $73000.
The reason behind the bank’s analysis is clear. Analysts have parallely compared Bitcoin ETFs with gold ETFs due to the impact of massive capital inflows into the market through spot Bitcoin ETFs and portfolio optimisation.
Geoff Kendrick, Standard Chartered’s head of digital assets, emphasized the relevance of these comparisons in predicting BTC’s price trajectory.
Ethereum Price Outlook
Although SC has revised its year-end Bitcoin forecast, it has maintained its Ethereum year-end target. The UK-based MNC anticipates that ETH will hit $8,000 in 2024 if spot Ether ETFs become a reality with the approval of the U.S. Securities and Exchange Commission.
Currently trading at $3,568, we can say that Ethereum’s potential growth aligns with upcoming system developments. So, let’s clearly understand what is driving Ethereum’s price –
The bullish sentiment surrounding Ethereum stems from the Ethereum Dencun upgrade which took place on 13th March 2024, and the potential approval of a spot Ethereum ETF by the SEC.
These developments could lead to substantial inflows into Ethereum (just like Bitcoin ETFs), which is expected to reach $15-45 billion in the first 12 months post-approval.
Insight into 2025
Three months down 2024, let’ take a look at the insights into 2025.
Standard Chartered predicts a resurgence in the ETH-to-BTC price ratio, aiming for a $14,000 ETH price by 2025. Standard Chartered’s forecast highlights its confidence in Ethereum’s long-term growth prospects supported by developments in its ecosystem and the potential capability of the coin.
On the other hand, Richard Teng, the new CEO of Binance, anticipates that Bitcoin will cross the $80,000 mark by year-end. The reason for Teng’s lower year-end forecast is that he believes supply dynamics and sustained demand of Bitcoins will act as catalysts for further growth, but not so much as to push to price beyond $150k as expected by Standard Chartered.
With financial institutions like Standard Chartered revising their price targets for Bitcoin, investors may take this opportunity to not miss out on potential opportunity cryptocurrencies as lucrative investment opportunities. The growth of spot Bitcoin ETFs and regulatory advancements in the overall crypto market signals a prosperous market, enticing both traditional and crypto-native investors.
Read More