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Standard Chartered Bank has raised its year-end Bitcoin price forecast to $150,000, marking a significant 50% increase from its previous estimate of $100,000. The revision stems from robust inflows into spot bitcoin exchange-traded funds (ETFs) in the U.S., surpassing derivatives’ open interest growth and signaling sustained investment interest, especially from institutional funds.
The bank predicts Bitcoin to peak at $250,000 in the 2025 cycle before stabilizing around $200,000, drawing parallels with gold ETFs’ historical performance. Standard Chartered emphasizes the potential for BTC’s price to surpass expectations if ETF inflows hit $75 billion or if reserve managers start acquiring BTC.
Regarding Ethereum (ETH), the bank anticipates a potential surge in its price upon approval of an ETH ETF by the Securities and Exchange Commission (SEC) on May 23. Standard Chartered projects inflows of up to $45 billion in the first year, potentially propelling ETH to $8,000 by the end of 2024 and a return to a 7% ETH-to-BTC price ratio by 2025, suggesting an ETH price of $14,000. The analysis underscores the influence of regulatory decisions and institutional investments on the future trajectories of both Bitcoin and Ethereum.
