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The Standard Chartered Bank raised its Bitcoin (<a href="https://news.todayq.com/bitcoin-bull-run-pays-off-btc-whale-makes-217m-profits/" target="_blank" rel="noreferrer noopener">BTC</a>) price forecast for the end of 2024 by 50% to $150,000. During 2025, BTC is predicted to reach a high of $250,000 before settling around $200,000 as per reports. If a spot exchange-traded fund is approved in the US, Ether (ETH) could reportedly reach $8k by year’s end. Price prediction surged by 50% 
Standard Chartered (STAN) raised its year-end forecast for Bitcoin’s (BTC) price to $150,000 from $100,000. According to an emailed investment note received on Monday, the bank predicted BTC would reach a high next year of $250,000, before settling around $200,000.&nbsp; 
Bitcoin is trading at around $68,300 as of press time. At the beginning of the month, it reached $73,000. 
It’s known that <a href="https://news.todayq.com/bitcoin-etfs-records-over-1-billion-inflow-in-a-single-day/" target="_blank" rel="noreferrer noopener">Spot Bitcoin ETFs</a> began trading in the US in January. But, in its analysis, Standard Chartered compared the price of BTC with the price of gold after gold exchange-traded funds (ETFs) were introduced in the US.&nbsp; 
According to the analysts, this target is “correct” in light of the gold analogy. Based on the gold price movements following the introduction of US gold ETFs and the <a href="https://news.todayq.com/rich-dad-poor-dad-author-bullish-on-bitcoin-bear-for-gold/" target="_blank" rel="noreferrer noopener">gold</a> vs Bitcoin optimization, the portfolio should reportedly contain 80% gold and 20% Bitcoin as per the analyst.&nbsp; 
“Assuming the gold price stays unchanged, the BTC price would need to increase to $190,000 in order for BTC’s share to rise to the 20% indicated by our portfolio optimization,” the analysts noted.&nbsp; 
“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 note said. Additionally, “If ETF inflows reach our mid-point estimate of $75 billion, 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.” What about Ethereum? 
In addition, Standard Chartered said the Securities and Exchange Commission (<a href="https://news.todayq.com/300-million-crypto-ponzi-scheme-17-charged-by-sec/" target="_blank" rel="noreferrer noopener">SEC</a>) is expected to approve an ether ETF on May 23, resulting in inflows of $45 billion within a year and an ETH price of around $8,000 by the end of 2024. It’s trading at around $3,606 as of now. 
“In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22,” a separate note by Standard Chartered said. “Given our estimated BTC price level of USD 200,000 at end-2025, that would imply an ETH price of $14,000.”

Bitcoin to hit 150k, suggests Standard Chartered Bank; what about ETH?

Todayq News

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