Ethereum

Republican

Bitcoin

Standard

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/standard-chartered-predicts-ethereum-and-bitcoin-reach-new-price-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Standard Chartered Predicts Ethereum and Bitcoin Reach New Price Levels</a><br></p>
<p style="text-align: justify">Standard Chartered recently made a bold prediction, forecasting that Ethereum will reach $10,000 in the near future, increasing hopes in the <a href="https://en.coin-turk.com/2024-a-promising-year-for-the-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a>. The report also anticipates that Bitcoin will experience a significant surge, surpassing $200,000. This optimistic outlook correlates with recent developments such as Donald Trump’s election victory and a 25-basis-point rate cut by the Federal Reserve this week, which have contributed to positive momentum in digital assets.</p>
<h2 id="high-targets-for-ethereum-and-bitcoin">High Targets for Ethereum and Bitcoin</h2>
<p style="text-align: justify">According to Standard Chartered’s report, the total market value of the cryptocurrency market is expected to quadruple by the end of 2026, coinciding with the U.S. midterm elections. With the current market capitalization of approximately $2.5 trillion, this implies a potential rise to $10 trillion.</p>
<p style="text-align: justify">The leading financial institution reiterated its $10,000 target for Ethereum, suggesting that the second-largest cryptocurrency by market capitalization could exceed this level by the end of 2025, providing additional assurance amid the current strong market rally.</p>
<h2 id="crypto-friendly-policies-under-trump">Crypto-Friendly Policies Under Trump</h2>
<blockquote>
 <p>“Donald Trump’s presidency will encourage the adoption of crypto-friendly policies and increase digital asset acceptance in the short term.” – Geoffrey Kendrick, Head of Research at Standard Chartered</p>
</blockquote>
<p style="text-align: justify">Geoffrey Kendrick, Head of Research at Standard Chartered, pointed out factors supporting this optimistic forecast, including a Republican victory and anticipated regulatory clarity. Kendrick emphasized that Trump’s presidency would promote crypto-friendly policies, boosting the adoption of digital assets.</p>
<p style="text-align: justify">Additionally, the firm expects the SEC, under Republican leadership, to adopt a more lenient stance towards cryptocurrency markets, fueled by recent reports suggesting SEC Chairman Gary Gensler may leave his position this year.</p>
<h2 id="increased-interest-in-the-crypto-market">Increased Interest in the Crypto Market</h2>
<p style="text-align: justify">Leading <a href="https://en.coin-turk.com/ftx-seeks-to-sell-stake-in-ai-firm-anthropic/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> expert Ali Martinez indicated that Ethereum surpassing $3,000 marks only the “beginning” of the bull market. Martinez previously suggested that ETH could mirror a trend similar to the S&amp;P 500 and might reach $10,000 in the coming days.</p>
<p style="text-align: justify">Furthermore, ETH’s price increased by 4% today, rising above $3,000, with trading volume reaching $32.76 billion. The Open Interest in Ethereum futures also rose by 4%, reflecting market confidence in the leading <a href="https://en.coin-turk.com/bitcoins-price-dip-benefits-this-company-the-most/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a>.</p>
<h2 id="next-steps-and-expectations">Next Steps and Expectations</h2>
<p style="text-align: justify">Standard Chartered reiterated its prediction that Bitcoin will reach $200,000. The report mentions that cryptocurrencies like Bitcoin and Solana are expected to benefit the most under the new administration. It also notes that if the U.S. recognizes Bitcoin as a strategic reserve, it could strongly support a surge in cryptocurrencies, although the likelihood of such a development is deemed low.</p>
<p style="text-align: justify">Finally, ETH price analyses indicate that the next target for the cryptocurrency is $4,000, further supporting the potential for Ethereum to rise to $10,000 next year.</p>
<p style="text-align: justify">These positive developments in the cryptocurrency market offer new opportunities for market participants. Achieving high targets for major cryptocurrencies like Ethereum and Bitcoin could represent a significant milestone for the acceptance of digital assets and market dynamics.</p>
<p>The post <a href="https://en.coin-turk.com/standard-chartered-predicts-ethereum-and-bitcoin-reach-new-price-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Standard Chartered Predicts Ethereum and Bitcoin Reach New Price Levels</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Standard Chartered Predicts Ethereum and Bitcoin Reach New Price Levels

Table of Contents

COINTURK NEWS

Other articles published on Nov 9, 2024

Historic highs: Dow breaks 44,000, S&P hits new peak, Bitcoin eyes six figures

Norges Bank Aligns with MiCA, Norway Plans To Adopt CBDC

First Neiro On Ethereum (NEIRO) reaches a new all-time high of $0.002496

Could Bitcoin Push U.S. Government to the Brink of Bankruptcy?

Ripple Labs in Academia, New Data Shows Diversity

Analysts Said “This Rally Is Just The Beginning” For Bitcoin, Revealed Their Expectations

Join our free newsletter for daily crypto updates!