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Standard Chartered Says “Bitcoin Exceeding $75K Is Just the Beginning”, Announces 2024 Year-End Price Forecast!
Standard Chartered analyst Geoff Kendrick predicted that Bitcoin could reach $125,000 by the end of this year and $200,000 by the end of 2025.
Author:
Elif Azra Güven
06.11.2024 – 14:33
Update:
11 hours ago
0
Donald Trump’s re-election as the US president brought about a new ATH in Bitcoin and increased expectations for BTC’s rise.
While there is curiosity about whether BTC will continue its rise, British bank Standard Chartered said that Bitcoin exceeding $75,000 is just the beginning.
This is Just the Beginning!
At this point, expecting the rise to continue, Geoff Kendrick, Head of Global Digital Assets Research at Standard Chartered, stated in his statement that Bitcoin will reach $ 125,000 by the end of this year and $ 200,000 by the end of 2025.
Kendrick argued that Trump’s promises, such as dismissing SEC Chairman Gary Gensler, creating a national strategic Bitcoin reserve, and turning the US into a “Bitcoin superpower,” will drive the BTC rally.
“We went from Joe Biden, who was proactively negative about the industry, to Donald Trump, who was proactively positive.
Bitcoin will continue to rise and breaking $75k is just the beginning.”
Sharing his expectations in terms of Bitcoin options transactions, Kendrick stated that he has seen a lot of investor interest in Bitcoin around $80,000. Kendrick said that Bitcoin will reach $80,000 “in the next week or two” in the face of intense investor interest.
Kendrick added that the second Trump administration will likely expand the crypto market and introduce new stablecoin rules as well.
Standard Chartered analyst Kendrick recently said that another factor in Bitcoin breaking the $200,000 barrier by the end of 2025 is spot Bitcoin ETFs.
“Since their launch in January, spot Bitcoin ETFs have seen net inflows of about $24 billion, or about 315,100 Bitcoins, according to the data.
Next year, the ETF inflow will likely exceed 400,000 Bitcoin, pushing the price even higher.”
*This is not investment advice.
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