Ifeanyi Jesse 
British Banking Giant Predicts BTC to Reach $150,000
British banking giant Standard Chartered predicts that the price of Bitcoin (BTC) will reach $150,000 in 2024 and $250,000 by next year
According to a recent CNBC article, British banking giant Standard Chartered predicts that Bitcoin’s flagship cryptocurrency’s price might reach $150,000 in 2024 and $250,000 by next year. Bitcoin is now trading at $66,987.
British Banking Giant Hikes BTC Targets to $150,000
Despite a recent market dip, 2024 has proven to be an excellent year for Bitcoin. The enthusiasm around the approval of 11 Spot Bitcoin ETFs has been a driving force, propelling the cryptocurrency to new heights with a record price of $73,000. This trend has raised anticipation of more price hikes.
In light of this news, British banking giant Standard Chartered Bank has altered its Bitcoin projection. The bank believes it will reach $150,000 by the end of 2024. This is a significant increase from their prior $100,000 projection in November last year.
Following this trend, the British banking giant forecasts a further increase in Bitcoin’s value in the coming year, indicating an optimistic prognosis for the cryptocurrency’s future.
Standard Chartered Bank Expects BTC to Break $250,000 in 2025
Furthermore, Standard Chartered Head of Crypto Research Geoff Kendrick predicts an even more hopeful future for Bitcoin. It claims that BTC’s price might reach $250,000 by 2025. This change reflects the cryptocurrency’s success, outperforming forecasts with solid price rises this year.
Furthermore, the bank anticipates the next Bitcoin Halving event to further drive the asset’s price.
Bitcoin (BTC) ETF Drives Recent Surge
The uber-bullish price goal will be met, provided inflows into the newly established Bitcoin exchange-traded funds stay strong. The bank’s midpoint projection is $75 billion.
Robust demand for Bitcoin ETFs has been the primary optimistic story driving the most recent surge, which has propelled the Bitcoin price to a new all-time high of $73,737. According to noted ETF researcher Eric Balchunas, BlackRock and Fidelity’s Bitcoin ETFs are among the top five annual inflows.
Ethereum ETF Approval to Double ETH Price
At the same time, the bank does not exclude approving an Ethereum ETF based on spot prices later this spring. If the SEC adopts such a product, the most prominent alternative cryptocurrency may see its price nearly double by the end of the year. According to CoinGecko statistics, Ethereum is trading just below $3,500, down 3.7% in the last 24 hours.
Standard Chartered forecast in January that Ether might recapture its $4,000 level if the SEC approves a spot ETF. Despite the lack of this stimulus, the cryptocurrency rose above this level earlier in March.
It is worth noting that the bank also believes that the price of the leading Bitcoin competitor could skyrocket to a whopping $14,000 next year. With that stated, the chances of an Ethereum ETF getting authorized this year are minimal, with the SEC under increasing political pressure not to issue ETFs for other cryptocurrencies.