Financial Company Standard Chartered Releases New Price Forecast for Bitcoin? Can It Reach This Level? Here Are the Details
The post Financial Company Standard Chartered Releases New Price Forecast for Bitcoin? Can It Reach This Level? Here Are the Details appeared on BitcoinEthereumNews.com.
Following Bitcoin’s historic surge past $100,000 this week, Standard Chartered has predicted that the cryptocurrency’s price could double by the end of 2025. Standard Chartered Predicts Bitcoin to Double to $200,000 by End of 2025 Analyst Geoff Kendrick shared the optimistic outlook in a note published Thursday, citing strong institutional adoption as a key driver of projected growth. Kendrick noted that Standard Chartered’s $200,000 price target for Bitcoin is “achievable,” especially with continued institutional interest. “We would be even more bullish if we saw rapid adoption of BTC by US pension funds, global sovereign wealth funds (SWFs), and even a potential US strategic reserve fund,” Kendrick said. Kendrick added that institutional flows in 2025 are expected to maintain or exceed 2024 levels as firms like MicroStrategy accelerate their Bitcoin buying strategies. The firm is projected to match or exceed its 2024 Bitcoin purchases as part of its $42 billion, three-year plan. Bitcoin is set to rise over 140% in 2024, a 48% jump since President-elect Donald Trump’s November 5 election victory. The cryptocurrency’s rise to $100,000 marks a milestone that Standard Chartered predicts could occur as early as April 2023, when Bitcoin would be trading around $27,000. Standard Chartered’s bullish projection is based on Bitcoin’s continued adoption by institutional players. The firm believes that broader acceptance by pension funds, sovereign wealth funds and potential government reserves could further boost Bitcoin’s value. Bitcoin’s rally into 2024 underscores its growing appeal as a store of value and a hedge against traditional market volatility, positioning it as a key asset in both institutional and individual portfolios. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/financial-company-standard-chartered-releases-new-price-forecast-for-bitcoin-can-it-reach-this-level-here-are-the-details/
Filed under: News - @ December 6, 2024 1:23 am