Standard Chartered predicted in a new forecast that Bitcoin (BTC) The bank has increased its projection from the previous $100,000 mark that was at the end of last year. The bank’s projection has been increased from the $100,000 level at the end last year. The bank also made positive projections about a year from now if the Spot Bitcoin ETF continues to attract strong inflows.
According to the bank, BTC will likely reach $200 000 in 2025. The bank noted that BTC has been facing a number of challenges. “sharper-than-expected price gains,” On the other hand, you can also look forward to the new year. The next year will be a busy one. Bitcoin Halving event This should have an impact on asset prices.
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Standard Chartered Predicts $150,000 Bitcoin by the End of The Year
Bitcoin has had a great year in 2024, despite a recent price correction. The asset reached a new high in this year, thanks to the 11 Spot Bitcoin Exchange Traded Funds that were approved. It is currently priced at $73,000, with many anticipating an even higher price.
One of those who are predicting greater returns is Standard Chartered BankIt has now increased its estimate that Bitcoin (BTC), will reach $150,000 before the year 2024. The bank’s forecast of $100,000 in November, last year has been significantly increased. The bank then expects that the value will increase a full year later.
Please Read This: Bitcoin Halving 2024: Expert Predictions Point to $150,000 Surge
Standard Chartered analyst Geoffrey Kendrick led the team that provided this update in a note sent via email to investors. They stated in the note that BTC could reach $250,000 by 2025. It is noted that BTC will likely surpass $200,000 at least during the course of the year.
This analyst bases his prediction on an analogy with gold. They note specifically that the price target is “correct” The gold price movement after US approval of gold ETFs and portfolio optimization is necessary to weight gold in comparison with bitcoin.
Analysts projected the discrepancy requirements to be 80 percent gold and 20 percent Bitcoin. “Assuming the gold price stays unchanged, the BTC price would need to increase to $190,000 for BTC’s share to rise to the 20% indicated by our portfolio optimization,” According to the analyst,
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Source: watcher.guru
