The rise in Bitcoin ETF inflows has prompted Standard Chartered to increase its year-end price forecast, and 2025 price projections.
Global banking giant Standard Chartered has upped its bitcoin price prediction for the end of 2024 to $150,000, a significant increase from its previous forecast of $100,000.
Standard Chartered has emerged as one of the more Bitcoin-friendly legacy banks, with an active research team covering Bitcoin. Previously, the bank's analysts had predicted Bitcoin would reach $100,000 by the end of 2024. Standard Chartered Bank analysts led by Geoffrey Kendrick wrote: "For 2024, given the sharper-than-expected price gains year-to-date, we now see potential for the price to reach the $150,000 level by year-end, up from our previous estimate of $100,000."
The updated price prediction comes as spot bitcoin ETFs got approved in the US earlier this year. Standard Chartered believes these regulated investment vehicles are bringing significant institutional demand.
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