Bitcoin

Standard

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<p>British banking giant Standard Chartered <a href="https://www.cnbc.com/2024/03/18/bitcoin-to-rally-to-150000-this-year-and-could-touch-250000-in-2025-standard-chartered-says.html" rel="noopener noreferrer nofollow">believes</a> that the price of Bitcoin, the flagship cryptocurrency, could soar all the way to $250,000 next year, according to a recent report by CNBC. At press time, Bitcoin is trading at $67,179.</p>
<h2 id="will-bitcoin-etfs-keep-attracting-inflows">Will Bitcoin ETFs keep attracting inflows?</h2>
<p>The uber-bullish price target will be achievable if inflows into the newly introduced Bitcoin exchange-traded funds remain robust. The bank's mid-point estimate is $75 billion.</p>
<p>Exceptionally strong demand for Bitcoin ETFs has been the main bullish narrative behind the most recent rally that has managed to propel the Bitcoin price to a recent all-time high of $73,737.</p>
<p>According to prominent ETF analyst Eric Balchunas, BlackRock and Fidelity's Bitcoin ETFs have made it to the top five ETFs by yearly inflows.</p>
<h2 id="is-ethereum-etf-approval-on-the-cards">Is Ethereum ETF approval on the cards?</h2>
<p>At the same time, the bank does not rule out the possible approval of a spot-based Ethereum ETF later this spring. If the SEC greenlights such a product, the largest alternative cryptocurrency could nearly double its price by the end of the year.</p>
<p>According to CoinGecko data, Ethereum is currently trading slightly below the $3,500 level after shedding 3.7% over the past 24 hours.</p>
<p>Back in January, as <a href="https://u.today/standard-chartered-predicts-ethereum-eth-price-will-hit-4000-following-etf-approval" rel="noopener noreferrer nofollow">reported by U.Today</a>, Standard Chartered predicted that Ether could reclaim the $4,000 level if the SEC were to approve a spot ETF. However, the altcoin managed to surge above this level earlier this March even without this catalyst.</p>
<p>It is worth noting that the bank also believes that the price of the main Bitcoin competitor could skyrocket to a whopping $14,000 next year.</p>
<p>With that being said, the odds of an Ethereum ETF being approved this year appear to be <a href="https://u.today/ethereum-etf-approval-odds-plummet-heres-why" rel="noopener noreferrer nofollow">very slim</a>, with the SEC facing more political pressure not to approve ETFs for other cryptocurrencies.</p>

Standard Chartered Expects Bitcoin (BTC) to Hit $250,000

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