Standard Chartered Predicts Big Jump for Bitcoin and Ethereum Prices

Standard Chartered Bank has updated its Bitcoin price predictions, showing a more optimistic outlook. The bank now expects Bitcoin's value to hit $150,000 by the end of this year, up 50% from its earlier forecast of $100,000. It also foresees Bitcoin reaching a peak of $250,000 in 2025, before settling at $200,000.

This positive shift is partly based on comparing Bitcoin's market trends to those of gold, especially following the introduction of exchange-traded funds (ETFs) in the U.S.

The bank's comparison with gold is crucial. It suggests that the impact of ETFs on Bitcoin could mirror their effect on the gold market. If ETF investment reaches about $75 billion, or if central banks start buying Bitcoin, Standard Chartered believes Bitcoin could even surpass its $250,000 prediction in 2025.

Regarding Ethereum (ETH), Standard Chartered expects significant growth as well. It predicts that if a U.S. ETF for Ethereum is approved (potentially on May 23), we could see an influx of $45 billion within a year, pushing Ethereum's price to $8,000 by the end of 2024.

This is a big jump from its current price of around $3,570.

Looking further ahead, the bank envisions Ethereum's value rising even more. If the Ethereum-to-Bitcoin price ratio goes back to 7% (as it was in 2021-2022), and Bitcoin reaches $200,000 by 2025, Ethereum could climb to $14,000.

This analysis highlights Standard Chartered's confidence in the growing value and importance of cryptocurrencies in the global financial market.

In summary, Standard Chartered's bold predictions underline the potential of Bitcoin and Ethereum to dramatically increase in value, driven by market dynamics, historical comparisons with gold, and the anticipated impact of ETFs.

These insights offer a positive outlook for the future of these leading digital currencies.