Skip to content
NewsCrypto

Standard Chartered Raises Bitcoin Target to $150K This Year and $250K for 2025

Standard Chartered has updated its bitcoin price forecast, predicting bitcoin could hit $150,000 by the end of 2024 and $250,000 in 2025.

  • Yuya Takemura, CEO of Axys Holding, suggests that the 2024 bitcoin halving could trigger a major price rally by 2025, buoyed by bitcoin's historical growth and adoption rates.
  • Standard Chartered has updated its bitcoin price forecast, predicting the cryptocurrency could hit $150,000 this year and $250,000 by next year. 
  • Beyond bitcoin, Standard Chartered forecasts potential regulatory approval for an Ethereum ETF by May 23, suggesting such a development could inject up to $45 billion into the market.

Occurring every four years, halving has historically led to significant price surges for bitcoin. Now, as the next bitcoin halving is just around the corner, market participants are providing their latest bitcoin price prediction.

Talking to Investing.com, Yuya Takemura, CEO of Axys Holding, said, “Following the pattern, the 2024 halving might set off a considerable price rally by 2025.” He elaborates that this potential surge could be influenced by bitcoin's track record of growth and expanding adoption. 

In a similar vein of optimism, Standard Chartered has raised its bitcoin forecast, predicting that its price could reach $150,000 this year and $250,000 next year.  However, this bullish outlook is partly based on the historical performance of gold after the introduction of gold exchange-traded funds (ETFs) in the U.S. and the correlation between ETF inflows and bitcoin's price. 

“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,” wrote Geoff Kendrick, Standard Chartered’s head of crypto research, in an investment note on Monday.  

Last year in April, Standard Chartered declared the conclusion of the “crypto winter.” By November, the bank announced the arrival of “crypto spring,” highlighting the potential for bitcoin to hit $100K earlier than anticipated. Then, this year in January, Standard Chartered projected that bitcoin might reach $200K by 2025, contingent on the approval of spot bitcoin ETFs.

While bitcoin continues to capture the market’s attention, Standard Chartered also shares a take on spot ether ETF. It predicts that the U.S. Securities and Exchange Commission (SEC) might green-light an ETH ETF by May 23. This could funnel up to $45 billion into the market within the first year and potentially push ETH's price to around $8,000 by the end of 2024.


Edited by Harshajit Sarmah

Latest