Standard Chartered Raises Its BTC and ETH Forecasts, Bitcoin Can Reach $250K in 2025
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%.
DBS Bank cooperates with Standard Chartered PLC on developing distributed ledger technology for trade finance in Singapore.
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%.
According to Standard Chartered, an ETH ETF approval will come from the SEC in May, and could possibly pump ETH price to $4,000.
The SEC’s approval of spot Bitcoin ETFs is considered a turning point for the crypto industry.
Standard Chartered compares the Bitcoin ETF launch to the Gold ETF launch of 2004. It expects the BTC price to rally all the way to $200,000 in two years post the ETF approval.
Despite the prevailing bullish sentiments, there are macro factors that could pose a threat to Bitcoin’s bull run.
For many crypto enthusiasts and market participants, all indications point to the fact that Bitcoin could hit over $60,000 by April 2024.
According to Matrixport, Bitcoin would rise close to its current all-time high by April, and hit $125K by end of 2024.
China has rolled out its digital RMB interconnection platform with Standard Chartered Bank that is expected to use it in streamlining cross-border payments and other services.
Bitcoin has seen a positive trend over the past few weeks after dropping to a new all-time low last year due to the crypto winter that wiped billions of dollars from the industry.
According to the analyst, November will pave the way for a plausible BTC surge above the $45,000 mark.