Standard Chartered Bank Forecasts Bitcoin and Ethereum Prices

Standard Chartered Bank (STAN) has boldly increased its year-end price prediction for Bitcoin (BTC) from $100,000 to $150,000. The bank also believes that next year, Bitcoin will reach a cycle high of $250,000 before leveling down at $200,000.

According to Standard Chartered’s study, there is a similar relationship between the price of bitcoin and the inflows into exchange-traded funds (ETFs) and gold prices after the introduction of gold ETFs in the US. The bank believes there is validity in drawing comparisons between the performance of Bitcoin and gold, particularly after the launch of the spot Bitcoin ETF in the US in January.

According to the bank’s report, “We believe the gold analogy – in terms of ETF impact and optimal portfolios – remains a good starting point for estimating the ‘correct’ medium-term Bitcoin price level.”

Potential for Ethereum ETF Approval

The bank also speculates on the potential approval of an Ethereum ETF by the U.S. Securities and Exchange Commission (SEC) on May 23. If realized, this move could trigger inflows of up to $45 billion within the first 12 months, propelling the price of Ethereum (ETH) to approximately $8,000 by the end of 2024.

Furthermore, Standard Chartered forecasts that by 2025, the price ratio of ETH to BTC would rebound and return to the 7% mark that was seen for a large portion of 2021–2022. By the end of 2025, the bank projects that the price of Bitcoin will reach $200,000, which would translate to an ETH price of $14,000.

The estimates, which are supported by careful study and market trends, are endorsed by Standard Chartered Bank as reliable. The bank’s proactive strategy for forecasting bitcoin values is indicative of its dedication to offering investors insightful guidance as they navigate the unstable world of digital assets.