Summary
Standard Chartered predicts Bitcoin will reach $150,000 this year and $250,000 by 2025 if ETF flows continue to grow. The bank’s analysts revised their previous forecast of $100,000 for 2024 to $150,000 due to rapid pass-through from ETF inflows. The approval of 11 spot Bitcoin ETFs by the SEC has led to record inflows and rising demand from traditional investors. The bank used a gold ETF analogy to predict the $250,000 price for 2025, stating that the Bitcoin market will mature much faster. Bitcoin hit a new all-time high of $73,737 last week but has since settled around $67,100.
Key Points
1. Standard Chartered predicts that Bitcoin will hit a price of $150,000 this year, with a potential rise to $250,000 in 2025 if ETF flows continue growing.
2. The U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in January, resulting in record inflows and rising demand from traditional investors.
3. Standard Chartered analysts used a gold ETF analogy to predict the rapid maturing of the Bitcoin market and a faster price increase compared to gold as new investors gain access to the market.