[NEWS] Standard Chartered Bank predicts that Bitcoin will hit $150,000 by the end of the year

Standard Chartered, a major British bank, predicted that Bitcoin spot ETF inflows could surge from $50 billion to $100 billion, pushing the Bitcoin (BTC) price to $150,000 by the end of the year and $200,000 by 2025.

Analysts are growing increasingly wary of a post-halving price slump, and Bitcoin has actually seen a rise in significant declines.

Nevertheless, Geoff Kendrick, head of digital assets research at Standard Chartered, expressed an optimistic outlook, saying, "Bitcoin could reach $150,000 by the end of the year and $200,000 by the end of 2025."

Even before the SEC approved a spot Bitcoin ETF, Standard Chartered predicted that Bitcoin's price would soar to $200,000 by the end of 2025. Kendrick reaffirmed this bullish prediction in a recent interview with Bloomberg BNN.

Explaining the reason behind the remarkable rise, Kendrick cited the growth of the US ETF market. According to him, asset inflows into Bitcoin spot ETFs are likely to increase from the current $12 billion to $50 billion and even $100 billion.

Prediction based on the spot gold ETF market

Kendrick's prediction appears to be based on the growth of the gold market after the introduction of spot gold ETFs in the US in 2004. As the spot gold ETF market matured, the price of gold increased by about 4.3 times.

Kendrick noted that a similar trajectory could happen with Bitcoin if a Bitcoin spot ETF matures in a similar way within the next 18 to 24 months.

He also predicted that over time, as Bitcoin becomes more widely accepted and an accessible investment, demand for Bitcoin could increase, pushing the price up to the target range.

He further suggested that investors will eventually "allocate 80% of their portfolios to gold and 20% to Bitcoin." He also predicted that Bitcoin will reach $150,000 to $200,000 in the future.

Kendrick said he believes that large amounts of institutional capital will not only boost Bitcoin prices, but also stabilize them and reduce the chance of the sharp declines seen in past cycles.

Reference: Press
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