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Standard Chartered: Bitcoin price will rise to $150,000 by the end of the year

Standard Chartered bank experts believe that the price of Bitcoin will rise to $150,000 by the end of 2024 and to $250,000 during 2025. This is reported by CoinDesk with reference to the company's report.

The bank's forecast is based on two variables – the change in the price of gold after the launch of an ETF based on the asset and the correlation of the price of Bitcoin with the inflow of funds into spot funds.

“We believe the gold analogy, in terms of ETF exposure and optimal portfolio composition, remains a good starting point for assessing the “right” price level for Bitcoin over the medium term,” the report said.

In this regard, bank experts predicted an increase in the exchange rate to $150,000 by the end of 2024 and to $250,000 in 2025. The condition for the second scenario, according to analysts, is an influx of funds into spot Bitcoin ETFs in the amount of $75 billion.

Note that earlier the first cryptocurrency updated its historical maximum at $73,650, but then rolled back. At the moment, quotes fell below $65,000.

At the time of writing, the asset is trading above $68,000.


In addition to Bitcoin, Standard Chartered experts also predicted the price movement of Ethereum. If the U.S. Securities and Exchange Commission approves asset-based spot ETFs, capital inflows into the sector could reach $45 billion in the first year, analysts say.

In this case, by the end of 2024, the Ethereum rate will jump to $8,000, the report says. At the same time, in 2025, the price of the asset, according to the forecast, will most likely increase to $14,000, taking into account the growing correlation with the first cryptocurrency.

At the time of writing, Ethereum is trading above $3,600. Before the Dencun update, the asset rate jumped to $4083.

Source: Cryptocurrency

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