Standard Chartered, a British multinational bank, has revised its Bitcoin price forecast, expecting a significant increase.
They now predict Bitcoin to reach $150,000 by the end of 2024, up 50% from their previous estimate. The bank anticipates Bitcoin could hit $250,000 by 2025, stabilizing around $200,000 as the bull cycle slows.
This revision is based on their analysis of Bitcoin’s performance compared to gold, especially after the introduction of gold ETFs in the U.S.
They suggest that if Bitcoin ETF inflows reach $75 billion and reserve managers continue to accumulate Bitcoin, it could skyrocket to $250,000 by 2025. Currently, Bitcoin ETF inflows have surpassed $12 billion.
Standard Chartered attributes this bullish outlook to the upcoming Bitcoin halving and potential ETF approvals, expecting flows of $50 billion to $100 billion within a year. Bitcoin’s recent performance exceeded expectations, reaching $73,900 before dropping to $68,000.
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