Standard Chartered Bank’s Bold Predictions – Next Target $150K (2024) and then $250K (2025)

Standard Chartered Bank, a financial institution with a market capitalization of $800 billion, has made some bold predictions for the future of cryptocurrencies, particularly Bitcoin (BTC) and Ether (ETH).

The bank has raised its year-end forecast for Bitcoin’s price to $150,000, a 50% increase from its previous prediction of $100,000. This optimistic outlook is based on a comparison with the price of gold after gold exchange-traded funds (ETFs) were introduced in the U.S., and a correlation between ETF inflows and the Bitcoin price. Spot Bitcoin ETFs began trading in the U.S. in January.

Standard Chartered believes that the gold analogy, in terms of both ETF impact and the optimal portfolio mix, remains a good starting point for estimating the ‘correct’ Bitcoin price level in the medium term. If ETF inflows reach the bank’s mid-point estimate of $75 billion, and/or if reserve managers buy Bitcoin, the bank sees a good chance of an overshoot to the $250,000 level at some stage in 2025. After reaching this high, the bank predicts that Bitcoin will settle around $200,000.

JUST IN: $800 billion Standard Chartered Bank says #Bitcoin may hit as high as $250,000 in 2025 🚀 pic.twitter.com/ybr8yEfeXK

— Bitcoin Magazine (@BitcoinMagazine) March 18, 2024

In addition to its Bitcoin predictions, Standard Chartered also forecasts a bright future for Ether. The bank suggests that the Securities and Exchange Commission could approve an Ether ETF on May 23, leading to inflows of as much as $45 billion in the first 12 months and Ether reaching around $8,000 by the end of 2024. Ether was recently trading around $3,570.

By 2025, Standard Chartered sees the Ether-to-Bitcoin price ratio rising back to the 7% level that prevailed for much of 2021-22. Given the bank’s estimated Bitcoin price level of $200,000 at the end of 2025, this would imply an Ether price of $14,000.

These predictions by Standard Chartered Bank highlight the growing acceptance and optimism surrounding cryptocurrencies among traditional financial institutions. As the crypto market continues to mature and attract institutional investment, the future of Bitcoin and Ether looks promising.

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