A new price prediction for Bitcoin comes directly from the multinational bank Standard Chartered: “BTC at $200,000 by the end of 2025.”
This forecast is based on the approval of Bitcoin spot ETFs in this 2024, which will attract inflows of 50-100 billion dollars.
Standard Chartered’s Bitcoin price forecast sees BTC at $200,000 by the end of 2025
The multinational bank Standard Chartered has published its very optimistic forecast of the Bitcoin price, based on the assumption of what would happen with the approval of Bitcoin spot ETFs.
Specifically, analysts from the company Geoff Kendrick, responsible for digital assets, and Suki Cooper, precious metals analyst, predict that the price of Bitcoin will reach $200,000 by the end of 2025.
The Kendrick and Cooper report from Standard Chartered has been shared on X:
“Standard Chartered publishes some lunar calculations! $200,000 coming”
In practice, the bank expects that the approval of Bitcoin spot ETFs could attract inflows of 50-100 billion dollars in 2024.
This means that, by the end of this year, a figure between 437,000 and 1.32 million Bitcoin will be held in Bitcoin spot ETFs listed in the United States.
Bitcoin Price Forecast: Standard Chartered says 4.3x by the end of 2025
Playing with numbers, Standard Chartered’s prediction of BTC reaching $200,000 by the end of 2025 means that in two years Bitcoin will have to experience a price increase of 4.3 times compared to its current price of $47,000
Something that doesn’t seem to scare but rather is supported by the fact that in the crypto-asset sector, growth is faster compared to other markets.
In the report, Kendrick and Cooper reported how the price of gold ETPs has increased by 4.3x in about seven to eight years, after their launch in November 2004.
In this regard, here is what the two analysts from Standard Chartered write:
“We expect Bitcoin to enjoy price gains of a similar magnitude following the approval of the US spot ETF, but we see these gains materializing over a shorter period (one to two years), as we believe the BTC ETF market will develop more rapidly.”
Not only that, this forecast is also in line with another previous price forecast for Bitcoin by Standard Chartered, which is BTC at $100,000 by the end of this 2024.
The current sentiment and price of the crypto queen
At the time of writing, Bitcoin (BTC) is worth $46,057, a slight price retracement compared to its yearly (and also 2023) high of over $47,000 touched yesterday.
Exactly, this $47,000 threshold has not been reached by BTC for a whopping 19 months, during which the crypto queen has been traded at a lower price.
Apparently, the pump comes precisely from the (positive) expectations behind what will be the decision of the United States Securities and Exchange Commission (or SEC) regarding Bitcoin spot ETFs.
Not only that, but its sentiment also seems to have dropped a few points today compared to yesterday, although it remains positive. In fact, while yesterday Bitcoin’s Fear and Greed Index was at 76 points “Extreme Greed”, today it is at 73 points “Greed”.