CDS Crypto News Bitcoin Price Forecast: Standard Chartered Predicts 150,000 Dollars by End of Year
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Bitcoin Price Forecast: Standard Chartered Predicts 150,000 Dollars by End of Year

Standard Chartered Bank has increased its bitcoin price prediction target to $150,000 from the previous estimate of $100,000.

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Bitcoin Price Forecast: Standard Chartered Predicts 150,000 Dollars by End of Year

Crypto News– Standard Chartered Bank has revised its bitcoin price forecast, raising it to $150,000 from the previous estimate of $100,000.

Bitcoin Price Forecast: Standard Chartered Predicts 150,000 Dollars by End of Year

This upward adjustment is attributed to robust inflows into recently launched spot bitcoin exchange-traded funds in the United States, coupled with positive price movements in bitcoin, among other factors. In a report on Monday, analysts at Standard Chartered Bank, led by Geoffrey Kendrick, explained, “For 2024, given the sharper-than-expected price gains year-to-date, we now see potential for the price to reach the $150,000 level by year-end, up from our previous estimate of $100,000.”

The analysts noted that spot bitcoin ETF inflows are surpassing the growth in bitcoin derivatives’ open interest. They emphasized, “This means that while open interest measures are approaching stretched (2021) levels, overall positioning should be more sustainable this time.” Additionally, they highlighted that most of the inflows are likely to be persistent pension-type investments.

As of now, the price of bitcoin is trading around $68,000, having surged above $73,000 earlier this month.

The 2025 Bitcoin Price Projection

Standard Chartered Bank maintains its bitcoin price target of $200,000 for the end of 2025.

The analysts justify this target by drawing an analogy to gold. They explain that the target is based on the historical movements of gold prices following the introduction of U.S. gold ETFs, as well as the optimization between gold and bitcoin in portfolios, with an 80% allocation to gold and 20% to bitcoin. According to the analysts, “Assuming the gold price stays unchanged, the BTC price would need to increase to $190,000 in order for BTC’s share to rise to the 20% indicated by our portfolio optimization.”

However, if spot bitcoin ETF inflows reach the bank’s mid-point estimate of $75 billion, or if forex reserve managers begin purchasing bitcoin, there is a strong possibility that this target could be exceeded. In such a scenario, the price of bitcoin could potentially reach $250,000 at some point in 2025.

Bitcoin Price Forecast: Standard Chartered Predicts 150,000 Dollars by End of Year

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