Summary
TLDR: Standard Chartered upgraded its Bitcoin forecast to $150,000 by year-end and $250,000 next year, based on ETF inflows and reserve managers buying BTC. They also predict Ethereum’s price could reach $8,000 by year-end. Despite bullish long-term projections, Bitcoin’s current market behavior is bearish with recent outflows from spot Bitcoin ETFs. Be cautious and do your own research before making any financial decisions.
Key Points
1. Standard Chartered upgraded its Bitcoin forecast, expecting a year-end price of $150,000, up from $100,000, with a cycle high of $250,000 next year.
2. The bank’s optimistic revision is based on a comparative analysis of gold’s performance, ETF inflows, and reserve managers potentially buying BTC.
3. Standard Chartered also projects a positive outlook for Ethereum, anticipating a price increase to around $8,000 by year-end, with the potential for an ETH price of $14,000 if Bitcoin reaches $200,000 by the end of 2025.