As a seasoned researcher with over a decade of experience in the financial markets, I’ve seen my fair share of bullish and bearish predictions. However, the forecast by Standard Chartered for Ethereum price to hit $10,000 and Bitcoin reaching $200K is particularly intriguing. The combination of Donald Trump’s presidency, the Fed rate cut, and a potential shift in SEC’s stance towards cryptocurrencies seems to be creating a perfect storm for digital assets.
In a daring prediction, Standard Chartered has suggested that Ethereum could soon reach $10,000, fueling optimism during its current surge. Additionally, the report indicates that Bitcoin is preparing for a powerful move upward, possibly reaching close to $200K temporarily. This forecast emerges as the digital assets sector experiences a favorable trend following Donald Trump’s election victory and the Federal Reserve’s 0.25% rate cut this week.
Standard Chartered Predicts Ethereum Price To Hit $10,000
Based on a recent forecast, Standard Chartered anticipates a fourfold increase in the total value of the cryptocurrency market by the U.S. mid-term elections in late 2026. With the current market cap sitting around $2.5 trillion, this prediction suggests that it could reach an impressive $10 trillion by then if it holds true.
Furthermore, the top financial institution reinforced its earlier prediction for Ethereum to reach $10,000. They stated that this second largest cryptocurrency by market cap might break through this level towards the end of 2025, fueling market enthusiasm during an ongoing bullish trend.
Geoffrey Kendrick, Head of Research at Standard Chartered, expressed optimism based on several factors, including the recent Republican victory and a predicted clear regulatory path. He suggested that under Donald Trump’s presidency, crypto-friendly policies might be implemented, potentially boosting the use of digital assets in the short term.
Additionally, it’s expected that the firm believes the U.S. Securities and Exchange Commission (SEC) will adopt a lenient approach towards the cryptocurrency market under the current Republican administration. This prediction has ignited debates, since rumors suggest that SEC Chair Gary Gensler could step down from his position as early as this year.
In a striking resemblance to his earlier viewpoint, well-known crypto market analyst Ali Martinez stated that Ethereum reaching $3,000 is merely the commencement of its bullish trend. Earlier, he suggested that ETH might follow a similar trajectory as the S&P 500 and potentially surge to $10,000 in the near future.
What’s Next For ETH and BTC?
In addition to repeating their forecast, the bank stated that the value of Bitcoin could reach $200,000 simultaneously as Ethereum hits $10,000. The analysis in the report indicates that Bitcoin and other leading altcoins such as Solana, along with ETH, will likely experience significant growth under the new administration.
In addition to this, Standard Chartered bank contemplates the potential of the United States adopting Bitcoin as a national strategic reserve, an action which could bolster the ongoing surge in cryptocurrency. However, they have expressed that the likelihood of such a move is relatively slim. Notably, former President Donald Trump and Senator Cynthia Lummis have both suggested in the past that Bitcoin could serve as the US’s strategic reserve.
Currently, the price of Bitcoin is on an upward trend, having increased by 0.3% to reach $76,532. It even peaked at $77,252.75 within the last 24 hours. Furthermore, the surge in investments into the US Spot Bitcoin ETF demonstrates a growing institutional backing for cryptocurrency.
A significant new report shows an increasing number of newly created digital wallets are amassing Bitcoin, as the cryptocurrency’s popularity continues to climb among investors. Furthermore, it was pointed out by Ali Martinez that approximately 57,800 Bitcoins, worth about $4.16 billion, have been accumulated in recent days, which further strengthens positive feelings towards the digital asset.
Conversely, the value of ETH increased by 4% and reached over $3,000 today, while its trading volume stood at a staggering $32.76 billion. Furthermore, there was a notable 4% rise in Ether Futures Open Interest, indicating robust market faith in the leading alternative coin.
As a crypto investor, I’m excited about the resurgence of demand for the US Spot Ethereum ETF, which suggests another rally might be on the horizon. Additionally, recent price analysis points towards Ethereum aiming for the $4,000 mark soon, lending further credence to speculations that it could reach $10,000 by next year.
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2024-11-09 11:22