Standard Chartered Raises Year-End BTC Forecast To $150K
Standard Chartered has raised its year-end forecast for bitcoin’s (BTC) price to $150,000 from $100,000, predicting a high of $250,000 next year before settling around $200,000.
The bank based its analysis 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 BTC price.
If ETF inflows reach $75 billion or reserve managers buy BTC, there is a good chance of an overshoot to the $250,000 level in 2025.
Standard Chartered also suggested that the Securities and Exchange Commission could approve an ether (ETH) ETF on May 23, leading to inflows of up to $45 billion in the first 12 months and ETH reaching around $8,000 by the end of 2024.
In 2025, the ETH-to-BTC price ratio is expected to rise back to the 7% level that prevailed for much of 2021-22.
(With inputs from Shikha Singh)
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