Key Points
- Standard Chartered Plc has upgraded its price forecasts for Bitcoin and Ethereum.
- The bank predicts Bitcoin could reach $250K in 2025, and Ethereum could hit $14,000.
British multinational bank, Standard Chartered Plc, has revised its predictions for the prices of both Bitcoin (BTC) and Ethereum (ETH), providing a more optimistic outlook for these leading digital assets.
Standard Chartered’s Positive BTC Forecast
As per a recent Coindesk report, Standard Chartered has raised its year-end price prediction for BTC to $150,000 from $100,000. The bank also anticipates that Bitcoin will reach a cycle high of $250,000 in 2025 before stabilizing at the $200,000 mark.
This optimistic outlook is backed by an analysis that draws parallels between Bitcoin and gold, particularly with the introduction of the underlying exchange traded funds (ETFs) in the United States.
The bank’s analysis indicates that the launch of spot Bitcoin ETFs in the United States in January could significantly impact Bitcoin’s price. Based on the historical correlation between ETF inflows and Bitcoin prices, the bank predicts that ETF inflows of up to $75 billion could push Bitcoin’s price well above the $200,000 mark, potentially reaching $250,000 by 2025.
Ethereum’s Price and the Impact of ETFs
Standard Chartered’s optimistic forecast extends to Ethereum as well. The bank anticipates that the US Securities and Exchange Commission (SEC) will approve an Ethereum ETF by May 23, which could result in inflows of up to $45 billion into the altcoin within the first year.
According to the bank’s analysis, this influx of capital, combined with growing interest in Ethereum’s technology and ecosystem, could drive the cryptocurrency’s price to around $8,000 by the end of 2024, up from its current trading price of around $3,570.
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%. Based on its projected Bitcoin price of $200,000 by the end of 2025, this translates into an Ethereum price of $14,000.
