Photo by Standard Chartered Raises Bitcoin Price Forecast to $150,000
Standard Chartered, a leading bank in the financial industry, has recently revised its year-end forecast for the price of Bitcoin. The bank now predicts that Bitcoin’s price will surge to $150,000 by the end of the year, up from the previous estimate of $100,000. Moreover, Standard Chartered anticipates that Bitcoin could hit a peak of $250,000 in the upcoming year before stabilizing around $200,000. The bank’s analysis also includes projections for the price of Ether, suggesting that it could climb to $8,000 by the end of the year if a spot exchange-traded fund (ETF) is approved in the United States.
Insights from Standard Chartered
Standard Chartered’s analysis is grounded in a comparison with the price movement of gold following the introduction of gold exchange-traded funds in the U.S. The bank highlights a correlation between ETF inflows and the price of Bitcoin, particularly noting the commencement of spot Bitcoin ETF trading in the U.S. earlier this year.
ETH-to-BTC Price Ratio
Looking ahead to 2025, Standard Chartered foresees the ETH-to-BTC price ratio reverting to the 7% level that predominated throughout 2021-2022. With an estimated Bitcoin price of $200,000 by the end of 2025, this ratio implies a potential Ether price of $14,000.
Ether ETF Approval
In addition to Bitcoin forecasts, Standard Chartered has made predictions regarding Ether. The bank suggests that the Securities and Exchange Commission (SEC) may greenlight an Ether ETF on May 23. If this approval materializes, it could trigger inflows of up to $45 billion within the first year, propelling Ether’s price to approximately $8,000 by the conclusion of 2024.
