Standard Chartered Bank expects Bitcoin to rise to $150,000 by the end of this year, surpassing its previous forecast of $100,000. Additionally, during the bull market peak in 2025, Bitcoin is projected to reach $250,000 and ultimately stabilize at $200,000.
Thanks to the continuous inflow of funds into Bitcoin spot ETFs and the positive expectations surrounding the Bitcoin halving, Bitcoin has reached historic highs, briefly surpassing $73,000. However, the price has recently experienced a correction and has been fluctuating between $65,000 and $69,000, with a current price of $65,944, a decrease of approximately 2% in the past 24 hours.
Nevertheless, the brief correction of Bitcoin does not significantly affect the market’s confidence in its future strength. In a recent investment report on the 18th, Standard Chartered Bank even raised its previous prediction of Bitcoin reaching $100,000 by the end of 2024 to $150,000.
Bitcoin to surpass $250,000 in 2025
In addition to predicting that Bitcoin will rise to $150,000 by the end of this year, Standard Chartered Bank also forecasts that Bitcoin could reach $250,000 during the peak of the bull market in 2025 and then stabilize around $200,000.
As for the reasons behind this optimistic outlook, Standard Chartered Bank states that it is based on a comparison between the introduction of gold ETFs in the United States and the price of gold. Furthermore, they have taken into consideration the correlation between ETF funds and Bitcoin prices.
Approval of Ethereum spot ETF on May 23
Standard Chartered Bank also indicates that the U.S. SEC may approve an Ethereum spot ETF on May 23. Once this event occurs, it is expected to bring in $45 billion in funds for ETH within the first 12 months and motivate ETH to reach $8,000 by the end of this year.
Additionally, in another report, Standard Chartered Bank predicts that by 2025, the ETH/BTC exchange rate will rise to the 7% level seen between 2021 and 2022.
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