Standard Chartered has updated its Bitcoin and Ethereum forecasts, predicting BTC will hit $150,000 by year-end and soar to $250,000 by 2025, with Ethereum potentially reaching $8,000 on U.S. ETF approval.

Standard Chartered Elevates Bitcoin and Ethereum Price Forecasts for 2023 and 2025

Standard Chartered revised its price targets for Bitcoin (BTC) and Ethereum (ETH) on Monday for this year and 2025, Coingape reported.

Standard Chartered now predicts that the Bitcoin price will reach $150,000 by the end of the year and $250,000 by 2025. Furthermore, the bank predicts that the price of ETH will reach $8,000 if the US approves a spot Ether ETF. SEC.

Standard Chartered raised its year-end Bitcoin price target to $150,000 from $100,000 after the cryptocurrency reached a new all-time high. The move is in response to the gold analogy, massive inflows into spot Bitcoin ETFs, and portfolio optimization.

The bank also changed its target price in 2025 from $200,000 to $250,000. Thus, the bank raised its year-end and 2025 target prices by $50,000, owing to increased interest in spot Bitcoin ETFs. Standard Bank is more confident in its Bitcoin price target for 2024.

“We believe that both of these comparisons are still relevant and provide insights into how the Bitcoin price might develop,” says Standard Chartered’s head of digital assets, Geoff Kendrick.

Standard Chartered Optimistic on Ethereum's Future, Eyes $8,000 by 2024 Amid Upgrades and ETF Hopes

On the other hand, Standard Chartered maintained its Ethereum price target but believes the cryptocurrency will reach $8,000 in 2024 rather than 2026. ETH is currently trading at $3,568.

Standard Chartered cites the Ethereum Dencun upgrade and expected spot Ethereum ETF approval as the primary reasons for its bullish price target for ETH. The bank expects the United States. The SEC will approve a spot Ethereum ETF in May, with an estimated $15-45 billion inflows in the first year.

Furthermore, the London Stock Exchange (LSE) has announced that it will accept applications for Bitcoin and Ethereum ETFs. Also, "In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22," implying an ETH price target of $14,000 in 2025.

Bitcoin's Bullish Horizon: Kiyosaki and Experts Set Sights on $300,000 Target Amid Rising Investments

As the crypto asset reaches an all-time high, "Rich Dad Poor Dad" author Robert Kiyosaki has set a new price target of $300,000 for Bitcoin. Wall Street and crypto experts, including Standard Chartered, Fundstrat's Tom Lee, and Michael van de Poppe, predict that the BTC price will at least reach $100,000 by 2024.

In a commentary on CNBC's “Squawk on the Street,” William Quigley, co-founder of Tether, predicted that Bitcoin's price would reach $300,000. Quigley provided a fundamental analysis of money flows into Bitcoin amid rising institutional and retail investment in the cryptocurrency market.

BTC is currently trading at $68,166, with total BTC futures OI across exchanges reaching a high of $34.65 billion. Bitcoin futures OI on CME is $11.43 billion, up more than 1.5% in the past 24 hours.

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