Standard Chartered has revised its year-end prediction for Bitcoin, raising it from $100,000 to $150,000. This bullish trend is expected to persist in the foreseeable future. Additionally, BTC is projected to hit a cycle high of $250,000 before stabilizing around $200,000 next year.
“We think the gold analogy – in terms of both ETF impact and the optimal portfolio mix – remains a good starting point for estimating the ‘correct’ BTC price level medium-term,” the bank said in its note.
It further added, “If ETF inflows reach our mid-point estimate of $75billlion, and/or if reserve managers buy BTC, we see a good chance of an overshoot to the $250,000 level at some stage in 2025.”
The bank conducted its analysis by juxtaposing the price of gold following the introduction of gold exchange-traded funds (ETFs) in the U.S. and establishing a correlation between ETF inflows and the price of BTC. Notably, spot bitcoin ETFs commenced trading in the U.S. in January.
Additionally, the bank projected that the Securities and Exchange Commission might sanction an ether (ETH) ETF by May 23, potentially resulting in inflows of up to $45 billion within the inaugural 12 months. Consequently, the bank envisages ETH reaching approximately $8,000 by the conclusion of 2024.
"In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22. Given our estimated BTC price level of USD 200,000 at end-2025, that would imply an ETH price of $14,000,"the bank said in another note.
Last week saw unprecedented levels of weekly net inflows and trading volume for US spot bitcoin ETFs, coinciding with bitcoin reaching new all-time highs before experiencing a notable retreat.
According to reports, the combined net inflows for the ten spot bitcoin ETFs totaled $2.57 billion during the week. This marked a 15% increase from the $2.24 billion inflows recorded the previous week.
Bitcoin, on Tuesday, experienced a notable decline of over 7%, dropping to $62,500, marking its most significant one-day decrease in a fortnight. This downturn coincided with a widespread sell-off affecting cryptocurrencies and other high-risk assets, including stocks.
Currently, the cryptocurrency is down by 5.6% to $63,650, having reached a two-week low of $62,966, while Ether (ETH) also saw a decline of 6.7% to $3,276.
First Published:
19 Mar 2024, 09:46 PM IST
FAQs
Standard Chartered has revised its year-end prediction for Bitcoin, raising it from $100,000 to $150,000. This bullish trend is expected to persist in the foreseeable future. Additionally, BTC is projected to hit a cycle high of $250,000 before stabilizing around $200,000 next year.
What is Standard Chartered's prediction for bitcoin? ›
He also added that Standard Chartered's recent upward revision of its BTC price prediction to $120,000 by the end of 2024 underscores the growing confidence in Bitcoin's potential.
Did Standard Chartered Bank raises its bitcoin price target to $150000 this year and $250000 by end of 2025? ›
Standard Chartered increased its year-end bitcoin price forecast by 50% to $150,000. The bank also predicted BTC will reach a high for the cycle of $250,000 during 2025 before settling around $200,000.
What is the future price of bitcoin according to Cathie Wood? ›
Wood's ambitious $3.8 million BTC price prediction implies a market cap of around $79.8 trillion – an unrealistic 2030 forecast. For perspective, the entire U.S. economy is worth around a third of that price target and would imply an evaluation that is twenty-three and a half times that of Apple.
What will $100 of bitcoin be worth in 2030? ›
If this pattern continues into 2030, the price could peak around 2029 or 2030, potentially aligning with Wood's price prediction. If Wood is correct and Bitcoin reaches $3.8 million, a $100 investment in Bitcoin today would be worth $5,510 in 2030. This translates to a compounded annual growth rate (CAGR) of over 95%.
Will Bitcoin hit 50k? ›
The cryptocurrency has risen 16.3% so far this year, on Monday touching its highest since Dec. 27, 2021. At 12:56 p.m. EST (1756 GMT), bitcoin was up 4.96% on the day at $49,899, having oscillated around the $50,000 level.
Can Bitcoin hit 150K in 2024? ›
He suggested that $100,000 is “definitely doable” and, depending on market volatility, Bitcoin could even reach “125K, 150K.” Though it may seem like a stretch, he pointed out that such growth is possible given Bitcoin's history.
How much will 1 Bitcoin be worth in 2025? ›
Bitcoin Price Prediction Table
| Year | Average Price* | Percent Increase |
|---|
| 2024 | $64,784.06 | -% |
| 2025 | $88,862.10 | 37.50% |
| 2026 | $125,935.23 | 42.05% |
| 2027 | $183,299.42 | 46.40% |
8 more rowsBitcoin BTC/USD price history up until Sep 14, 2024
Bitcoin (BTC) price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024.
What is the target price for Bitcoin in 2024? ›
“Based on the current market trend, it is possible that bitcoin may reach up to $100,000 by the end of 2024 and could potentially surpass $200,000 by the end of 2025,” Collins said. Unfortunately, he said it's unlikely bitcoin's momentum in 2023 and 2024 will continue indefinitely.
Looking at Bitcoin's price history, halvings typically precede higher highs, followed by higher lows. If Bitcoin continues this pattern into 2030, the price could peak around 2029 or 2030. If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030.
What is your 2026 price prediction for Bitcoin? ›
Bitcoin price predictions overview
| Year | BTC price prediction |
|---|
| 2024 | $41,979 - $69,900 |
| 2025 | $50,882 - $120,000 |
| 2026 | $150,000 |
| 2027 | $220,000 |
5 more rowsArk's research suggests the cryptocurrency could soar 2,115% to almost $1.5 million by 2030 -- but Wood herself came out with an even more bullish estimate recently, saying Bitcoin could rocket 5,453% to $3.8 million.
Will Bitcoin reach 100k? ›
There's a strong likelihood that the bull market will persist, possibly pushing Bitcoin's price to $100,000 by year-end. The market has seen an influx of new investors, both retail and institutional, who are using spot ETFs to enter the market conveniently.
Will Bitcoin be worth anything in 20 years? ›
Fidelity Predicts: $1B per 1 BTC by 2038 — 2040
Jurrien Timmer, Director of Global Macro at Fidelity Investments, predicts a staggering future for Bitcoin, suggesting that the value of a single Bitcoin could soar to $1 billion by 2038 to 2040. Timmer's demand model is rooted in Metcalfe's Law.
What is the realistic price prediction for Bitcoin? ›
Bitcoin's Price History
Notably, Cathie Wood, CEO of Ark Invest, predicted that bitcoin could reach an astounding $1.48 million by 2030. Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent.
What is the price prediction for Bitcoin standard? ›
Our real-time BTCST to USD price update shows the current Bitcoin Standard Hashrate Token price as $0.259963 USD. Our most recent Bitcoin Standard Hashrate Token price forecast indicates that its value will increase by 14.78% and reach $0.298384 by September 17, 2024.
Is Bitcoin predicted to go up or down? ›
Our real-time BTC to USD price update shows the current Bitcoin price as $59,939 USD. Our most recent Bitcoin price forecast indicates that its value will increase by 12.84% and reach $67,634 by September 19, 2024.
