Analysts at Standard Chartered bank expect that the Bitcoin rate could reach $200 thousand by the end of 2025. One of the main factors on which the forecast is based is the approval of spot Bitcoin ETFs in the United States, writes RBC Crypto with reference to The Block.
The bank compared the expected launch of spot Bitcoin ETFs to gold exchange-traded funds and how the latter have revolutionized the gold market by opening up widespread access for investors. Standard Chartered sees the potential approval of a Bitcoin ETF as a “watershed moment” for the normalization of institutional participation in Bitcoin.
Analysts noted that the price of gold increased 4.3 times in the seven to eight years after the launch of the ETF. In their opinion, as a result of allowing spot Bitcoin ETFs, the price of the cryptocurrency will increase just as much, but over a shorter period (one to two years), as this market will develop faster.
Source: Cryptocurrency
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