Standard Chartered Bank analysts raised their expectations for the price of Bitcoin at the end of this year by 50% to $150,000, and the analysis was based on the performance of the yellow metal after the launch of gold funds traded on the American stock exchange.
According to a note issued Monday, the bank expects Bitcoin to reach its highest level in the current cycle at $250,000 in 2025 before stabilizing at about $200,000 at the end of the year, according to “Business Insider.”
“We believe that comparison to gold – in terms of the impact of ETFs and optimal portfolio mix – remains a good starting point for estimating the correct Bitcoin price level in the medium term,” the note said.
Standard Chartered said that US regulators’ approval of an Ethereum ETF on May 23 could lead to inflows of up to $45 billion in the first 12 months, and the cryptocurrency reaching $8,14,000 at the end of the current and next year.
