Ethereum Price To Hit $10K As BTC Eyes $200K Rally: Standard Chartered
The post Ethereum Price To Hit $10K As BTC Eyes $200K Rally: Standard Chartered appeared on BitcoinEthereumNews.com.
In a recent bold forecast, Standard Chartered said that Ethereum price is poised to hit $10,000 in the near term, sparking optimism amid the ongoing rally. Besides, the report also notes that besides ETH, Bitcoin is also gearing up for a strong run towards the north, potentially reaching the brief $200K mark. This forecast comes as the broader digital assets space is witnessing a positive momentum with Donald Trump’s election win and the 25bps Fed rate cut this week. Standard Chartered Predicts Ethereum Price To Hit $10,000 According to a recent report, Standard Chartered predicts a 4X surge in the overall crypto market cap by the US mid-term elections in late 2026. As the current market cap hovers near the $2.5 trillion mark, the prediction, if comes true, indicates that it could potentially hit $10 trillion by that time. In addition, the leading financial firm reiterated its previous target for Ethereum at $10,000. The firm said that the second-largest crypto by market cap could breach the level as soon as 2025 ends, bolstering market optimism amid an already strong rally. Meanwhile, Standard Chartered Head of Research Geoffrey Kendrick cited several factors for his bullish prediction like the recent Republican victory, anticipated clear regulatory path, and others. He said that Donald Trump’s presidency is likely to drive the adoption of crypto-friendly policies, that could drive the adoption of digital assets higher in the near term. Besides, the firm also anticipates the US SEC will take a soft stance towards the cryptocurrency market under the Republican administration. This also sparked discussions, as recent reports indicate that SEC Chair Gary Gensler may exit the office as soon as this year. Notably, echoing a similar sentiment, prominent crypto market expert Ali Martinez said that Ethereum hitting $3,000 is “just the beginning” of its bull…
Filed under: News - @ November 9, 2024 8:27 am