Bitcoin’s Potential Surge to $200K by 2025

0

Standard Chartered, a prominent global financial institution, has recently made a prediction that Bitcoin might reach over $200,000 by the end of 2025. This prediction is contingent upon the approval and profitability of Bitcoin exchange-traded funds (ETFs) in the United States. By the end of 2024, it is anticipated that between 437,000 and 1.32 million Bitcoin would be held in spot Bitcoin ETFs that are listed in the United States. This would result in inflows of around $50-100 billion. This forecast is dependent on the assumption that this number will be reached.

Geoff Kendrick and Suki Cooper, two executives of the bank, compared the potential development of the bank to the past success of gold exchange-traded funds. They made the observation that the value of these items increased by a factor of 4.3 around seven to eight years after they were first introduced to the market in November of 2004. When this trajectory is applied to Bitcoin, they believe that if the inflows connected to exchange-traded funds (ETFs) materialise as anticipated, then a price level for Bitcoin that is close to $200,000 might be achievable by the end of the year 2025.

Kendrick and Cooper consider the approval of spot Bitcoin exchange-traded funds (ETFs) to be a momentous occasion representing a “watershed moment” in the process of normalising Bitcoin participation. In conjunction with these changes, industry experts stress the need of taking into consideration the stronger network foundations of Bitcoin. A blockchain expert named Jamie Coutts made the observation that Bitcoin’s fundamentals are at an all-time high, and that the cryptocurrency’s attractiveness is being bolstered by unique use cases like as inscriptions.

According to Coutts, Bitcoin’s price is still forty percent below its all-time high, indicating that it is undervalued. This is despite the fact that Bitcoin’s fundamentals are strong. Keeping this in mind, the projected flood of investment via exchange-traded funds (ETFs) might be the catalyst for a significant rise in the price of Bitcoin, which could possibly reach the predicted level of $200,000 by the end of the year 2025.

Image source: Shutterstock


Credit: Source link

Leave A Reply

Your email address will not be published.