Standard Chartered raises 2024’s BTC forecast to $150K, projects $250K in 2025
Standard Chartered upgrades BTC forecast to $150K year-end. The bank’s analysis is based on ETF inflows, historical gold performance, and institutional interest. The bank believes the potential ETH ETF approval could drive ETH to $8K by 2024. Standard Chartered Bank has upgraded its year-end forecast for Bitcoin’s price to $150,000, representing a 50% increase from its previous estimate of $100,000. The bank anticipates significant bullish momentum for BTC, attributing the revision to strong inflows into spot bitcoin exchange-traded funds (ETFs) in the United States. These inflows are outpacing the growth of bitcoin derivatives’ open interest, suggesting sustainable positioning and long-term investment interest, particularly from pension-type funds. The revised forecast also includes a projection for Bitcoin to reach a high of $250,000 during the 2025 cycle before stabilizing around $200,000. Standard Chartered bases its Analysis on th...