Standard Chartered Analyst Predicts Bitcoin Price By Year End Can Reach $150,000

Key Points:

• Standard Chartered’s Geoff Kendrick predicts Bitcoin price by year end to hit $150,000 and $250,000 by 2025.
• Kendrick anticipates Ethereum’s surge to $4,000 by 2024 end, driven by potential approval of spot Ethereum ETFs in the US.

Significant milestones, including a surge in value and optimistic projections for Bitcoin price by year end, have marked the coin’s journey in 2024.

Standard Chartered’s Kendrick Forecasts Bitcoin Price By Year End to Hit $250,000

Geoff Kendrick of Standard Chartered emphasizes the transformative impact of these developments, citing increased optimism within the financial sector and the broader cryptocurrency landscape. Kendrick predicts a target of $150,000 for Bitcoin price by year end, reflecting a bullish outlook even in the absence of similar performance from other cryptocurrencies.

The approval of 11 spot Bitcoin ETFs sparked considerable excitement, propelling BTC’s price to a historic high of $73,000 and setting the stage for further growth.

Looking ahead, Kendrick and Standard Chartered foresee an even brighter future for Bitcoin, with expectations of reaching $250,000 by 2025. This projection factors into the Bitcoin halving event, expected to further bolster the asset’s value.

Standard Chartered’s analysis is supported by the significant inflows to ETFs and the behavior of gold following their launch, contributing to a positive outlook for Bitcoin in the coming years.

Ethereum ETF Approval Anticipated By Kendrick

Additionally, Kendrick believes Ethereum could see substantial gains, potentially reaching $4,000 by the end of 2024. This prediction is driven by the anticipated approval of spot Ethereum ETFs in the United States. Kendrick led a report on the potential impact of these ETFs, concluding that Ethereum‘s value could soar with regulatory approval.

Kendrick further suggests that the SEC is likely to approve Ethereum ETFs, citing the absence of past legal actions against ETH and its classification as a security. These insights underscore Standard Chartered’s comprehensive analysis and strong confidence in the future of cryptocurrencies, particularly Bitcoin and Ethereum.