Analysts at Standard Chartered have revised their target forecasts for the price of Bitcoin and Ethereum for this year and next, assuring that both cryptocurrencies will reach new records much faster.
Standard Chartered analysts raised their Bitcoin target for the end of 2024 from $100,000 to $150,000. The reason: the first cryptocurrency reached a new all-time high. In 2025, Bitcoin is capable of crossing the $250,000 mark, experts believe. Although their previous forecast was $50,000 less . A massive influx of investments into spot Bitcoin ETFs will greatly contribute to the bullish rally, Standard Chartered is confident.
The bank predicts that if the US Securities and Exchange Commission (SEC) approves spot ETFs for ether, then in the first 12 months the flow of funds into these investment products could reach $15-45 billion. According to Standard Chartered forecasts, the SEC may approve exchange – traded funds , tied to the air, already in May. If ETH-ETFs appear in the United States, then this year the second cryptocurrency will be traded at $8,000, analysts predict.
Previously, they assumed that broadcasting could reach this mark only in 2026. Now ETH is trading at $3,500, and its market capitalization reaches $428.7 billion. Standard Chartered analysts named the Dencun update on the Ethereum network as another condition for growth.
A few years ago, Standard Chartered announced a partnership with metaverse The Sandbox to create its digital space.
