Standard Chartered Predicts Bitcoin Will Rise Over 200% To $250,000, Here’s The Timeline

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As an analyst with a background in finance and experience following the cryptocurrency market, I find Standard Chartered’s prediction of Bitcoin reaching $150,000 by the end of 2024 and $250,000 by 2025 to be intriguing. The bank’s analysis is grounded in the success of gold ETFs and the comparison of Bitcoin to digital gold.

Bitcoin‘s price fluctuations can be erratic, but its underlying strength remains unshaken, as evidenced by Standard Chartered’s optimistic projections. Despite the possibility of a short-term price drop, this global banking powerhouse anticipates significant growth for Bitcoin. In their investment note, they suggest that Bitcoin could surge to an astonishing $150,000 by the close of 2024. Furthermore, their long-term perspective predicts that the world’s premier cryptocurrency may reach a peak of $250,000 in 2025.

Standard Chartered Predicts Massive Bitcoin Price Surge

By mid-2024, the first half will have almost passed, and the price behavior of Bitcoin has deviated from what many had anticipated. Yet, analysts at Standard Chartered remain optimistic and have adjusted their prediction for Bitcoin’s price to $100,000 by year-end. Now, they believe that Bitcoin’s value could surge by more than 130% in the second half of 2024 and reach a maximum of $150,000 towards the end of the year.

As a researcher studying the trends in the financial markets, I’ve observed that the introduction of gold exchange-traded funds (ETFs) in the US has led to remarkable success. Following this achievement, there was a significant increase in the price of gold within a few months after their launch.

“The gold comparison, which considers the influence of Bitcoin ETFs and the ideal proportion in a portfolio, remains a useful benchmark for determining an approximate mid-term Bitcoin value.”

Numerous experts and market participants have long drawn parallels between Bitcoin and gold. The former’s scarcity, capped at 21 million units, and function as a decentralized store of value make it an appealing alternative to traditional gold for investors. Just as gold has historically served as a safeguard against inflation and financial instability, Bitcoin is regarded as a digital equivalent in the contemporary economic landscape.

Standard Chartered is confident that the price of Bitcoin will continue to rise and hit a peak of $250,000 in 2025. However, this prediction hinges on the successful launch of Spot Bitcoin Exchange-Traded Funds (ETFs).

Should ETF investments amount to our projected mid-point of $75 billion and if central banks decide to purchase Bitcoin, there is a strong likelihood that the price will surpass $250,000 by 2025.

It’s indisputable that the debut of Spot Bitcoin Exchange-Traded Funds (ETFs) in January has significantly boosted the value of Bitcoin. The highly anticipated launch drew massive interest from institutional and traditional investors, causing a surge in demand for Bitcoin. Consequently, the price of Bitcoin reached a new peak, setting a fresh all-time high.

Although the demand for Spot Bitcoin Exchange-Traded Funds (ETFs) has been waning, with six consecutive days of withdrawals recorded in the previous week, some observers believe that the price of Bitcoin has grown overly reliant on these ETFs’ activities. Currently, these 11 ETFs hold approximately $55.55 billion in Bitcoin, equating to around 4.39% of the total market capitalization.

Standard Chartered Predicts Bitcoin Will Rise Over 200% To $250,000, Here’s The Timeline

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2024-06-24 20:41