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Our analysis of the situation
In a world where digital assets are rewriting the rules of finance, the latest research notes from Standard Chartered have set the stage for an electrifying narrative: a bullish outlook for the crypto heavyweights, Bitcoin (BTC) and Ethereum (ETH), reaching new celestial highs by the end of 2024 and beyond.
The Bitcoin Bonanza: A Path Paved with ETFs
Standard Chartered’s analysts have cast their gaze toward the horizon and painted a compelling picture of Bitcoin potentially reaching the stratospheric $150,000 altitude by year-end. Central to this celestial trajectory is the impact of Bitcoin spot Exchange-Traded Funds (ETFs), which have garnered rapid inflows since their liftoff on January 11.
The research highlights a seismic shift in Bitcoin investment trends, signaling a departure from speculative peaks to a more stable and sustainable positioning. The projection is built on robust analyses, including the gold analogy which suggests a surge to $200,000, two-asset optimization indicating a $190,000 trajectory, and a correlation between ETF inflows and Bitcoin price pointing to a possible $250,000 pinnacle.
Holding the exposition firmly in orbit is the revelation that an "overshoot to $250,000 is likely at some point in 2025 if ETF inflows continue apace and/or reserve managers buy BTC." The bank’s foresight has evolved from a previous prediction of $100,000 for Bitcoin by the end of 2024, underscoring the resolute bullish sentiment.
Ethereum’s Ascent: Dencun and The ETF Anticipation
The brilliance of Standard Chartered’s vision extends to Ethereum, charting a course toward the $8,000 zenith by the close of 2024. The Dencun upgrade, a transformational development, has significantly reduced transaction costs on layer 2 blockchains, sharpening Ethereum’s competitive edge.
Anticipation swells around the expected approval of ETH spot ETFs by the US SEC, poised to unleash a torrent of inflows. The bank’s outlook mirrors the fervor witnessed with Bitcoin ETFs, projecting substantial inflows and a trajectory that could propel Ethereum to the aforementioned $8,000 benchmark.
Surveying The Cosmos Beyond 2024
Looking ahead, the Standard Chartered vision stretches into the constellations of 2025, where the bank envisions the ETH-to-BTC price ratio reclaiming the 7% level, emblematic of the 2021-22 era. This recalibration sets the stage for a projected Ethereum price of $14,000 by the close of 2025, dancing in harmony with the forecasted Bitcoin level of $200,000.
In a world where BTC now orbits at $68,401, the trajectory outlined by Standard Chartered delineates an exhilarating odyssey where Bitcoin and Ethereum are celestial bodies destined to scale new heights, illuminating the path to untold opportunities in the digital asset universe.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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