Standard Chartered releases its latest research notes By the year 2024, and even beyond, the outlook is very positive for Bitcoin (BTC) as well as Ethereum (ETH), the two major digital assets. According to the analysts at this bank, Bitcoin may reach $150,000 while Ethereum might hit $8,000.
This projection comes amid a number of recent developments, including Bitcoin’s spot Exchange-Traded Funds. upgrade.
Bitcoins’ Path to $150,000
Research by the bank explains how Bitcoin could reach $150,000 in value before the end of this year. This projection relies heavily on the impact of Bitcoin ETFs. launch on January 11Rapid inflows have exceeded increases in open interest.
The bank believes that this indicates a more solid and stable position for Bitcoin, compared to its previous speculative highs. Rapid inflows into the new Bitcoin spot ETFs (BTCs) have been dominant. […] Many of us are able to get along with the majority inflows are likely to be sticky Geoff Kendrick, Suki Cooper and others explain the “pension-type flows” in Bitcoin investments.
Standard Chartered Bitcoin valuation relies on three key analyses.
- Gold analogy Draw parallels with the gold market’s response The bank believes that Bitcoin’s price could reach $200,000 due to US gold ETFs. This would be a rise of 4.3x from the pre-ETF level.
- Two-Asset Optimization: The analysis, which optimizes a portfolio of 80% gold and a 20% Bitcoin at the current gold price suggests that Bitcoin should be around $190,000.
- ETF Inflows and Correlation The correlation between ETFs inflows, and Bitcoin’s price levels can be extrapolated to an amount of $250,000 if the total ETFs inflows are at the mid-point estimate by the bank.
Standard Chartered notes these three measures as suggesting “that $200,000 is the ‘correct’ end-2025 price level for BTC, […] and that it is likely to be the new midpoint for a sideways trading range at that time.”
The research also notes that the an “overshoot to $250,000 is likely at some point in 2025 if ETF inflows continue apace and/or reserve managers buy BTC.” Prior to this, only the Bank could be contacted. predicted Bitcoin will reach $100,000 in price by 2024.
Ethereum’s road to $8,000.
Ethereum’s predicted rise to $8,000 in 2024 rests on the shoulders of two revolutionary developments: The Dencun upgrade The recent approval of ETH Spot ETFs. Recent developments in the ETH spot ETF market. Dencun upgradeEthereum is more competitive because it has a lower transaction cost on the layer 2 Blockchains.
“Ethereum (ETH) has just undergone the ‘Dencun’ upgrade, which dramatically lowers the cost of transactions […] making ETH more competitive,” The research notes
Forecasts also depend on US SEC approval of ETH ETFs before May 23, which is likely to lead to substantial inflows. Standard Chartered is predicting a similar response to Ethereum based on its experience with the Bitcoin ETF. The company expects inflows between 2,39-9,15 million ETH ($15-45 Billion)
The substantial infusion of capital is seen as an important lever to drive the price increase for Ethereum. “We expect significant ETF-driven inflows to ETH […] This could drive ETH to the $8,000 level by end-2024,” Banks have emphasized the similarity of Bitcoin’s growth trajectory.
What is the Prognosis for 2025 and Beyond?
Standard Chartered has also made predictions for 2025, when the ETH/BTC ratio will return to the 7% mark, a feature of the period 2021-22.
The adjustment predicts an Ethereum value of $14,400 by 2025. This is based on a Bitcoin projected level of $200,000 The bank is optimistic about digital assets and the growth potential they offer in the long term.
BTC is currently trading for $68,401.
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