Crypto News – If Bitcoin exchange-traded funds receive approval and prove to be successful in the US, Standard Chartered projects that the value of Bitcoin (BTC) may approach $200,000 by the end of the following year.
Standard Chartered Forecast: Bitcoin Could Reach 6-Digit Figures Within 2 Years If ETFs Are Approved
By the end of 2024, the bank’s price projection is predicated on the premise that between 437,000 and 1.32 million Bitcoin will be held in spot Bitcoin ETFs that are listed in the US. The company calculates that these would translate into inflows of $50–100 billion.
In Jan. 8 research that was released on X, Standard Chartered head of digital assets Geoff Kendrick and precious metals analyst Suki Cooper stated, “If ETF-related inflows materalise as we expect, we think an end-2025 level closer to USD 200,000 is possible.”
Bitcoin Needs to Increase 4.3x to Reach Projections
According to Kendrick and Cooper, the approval of spot Bitcoin ETFs marks a turning point in the normalization of Bitcoin usage. According to Kendrick and Cooper, Bitcoin will need to rise 4.3 times from its current $47,000 price to reach its $200,000 projection. But seven or eight years after gold exchange-traded products (ETPs) were introduced in November 2004, the executives at Standard Chartered observed that the value of gold ETPs was multiplied by this 4.3 number.
We expect Bitcoin to enjoy price gains of a similar magnitude as a result of US spot ETF approval, but we see these gains materalising over a shorter (one- to two-year) period, given our view that the BTC ETF market will develop more quickly.
Standard Chartered executives
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