{"id":11698,"date":"2024-03-18T16:36:44","date_gmt":"2024-03-18T14:36:44","guid":{"rendered":"https:\/\/forklog.com\/en\/standard-chartered-raises-bitcoin-and-ethereum-targets-for-2024-to-150000-and-8000\/"},"modified":"2024-03-18T16:36:44","modified_gmt":"2024-03-18T14:36:44","slug":"standard-chartered-raises-bitcoin-and-ethereum-targets-for-2024-to-150000-and-8000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/standard-chartered-raises-bitcoin-and-ethereum-targets-for-2024-to-150000-and-8000\/","title":{"rendered":"Standard Chartered Raises Bitcoin and Ethereum Targets for 2024 to $150,000 and $8,000"},"content":{"rendered":"

Analysts at Standard Chartered have revised their year-end 2024 target for Bitcoin upwards from $100,000 to $150,000, with Ethereum potentially reaching $8,000 by the same time. This is according to a report cited by CoinDesk<\/a>.<\/p>\n

The upgrade follows the excitement surrounding spot Bitcoin ETFs and the sharp rise in the asset’s price since January.<\/p>\n

By the end of 2025, the first and second cryptocurrencies could rise to $200,000 and $14,000, respectively, according to the document.<\/p>\n

Experts justified their expectations by drawing parallels with gold’s performance following ETF approval and optimizing the ratio of the precious metal to its digital counterpart at 80%\/20%.<\/p>\n

\n

\u201cWe believe that [such] an analogy remains a good starting point for calculating the ‘correct’ Bitcoin rate in the medium term. […] Assuming the value of the precious metal remains unchanged, the first cryptocurrency’s quotes should reach $190,000,\u201d<\/em> the review states.<\/p>\n<\/blockquote>\n

According to experts, if ETF inflows grow to $75 billion, digital gold could rise to $250,000. Sovereign wealth funds’ actions could also accelerate growth.<\/p>\n

\n

\u201cWe see a growing likelihood that major reserve managers may announce Bitcoin purchases in 2024,\u201d<\/em> the analysts noted.<\/p>\n<\/blockquote>\n

The community has taken note of the potential for Qatar’s sovereign fund, which manages $500 billion, to acquire digital gold. This possibility was mentioned by SkyBridge Capital founder Anthony Scaramucci, citing El Salvador’s presidential advisor Max Keiser.<\/p>\n

\n

Max is saying Qatar may have added #Bitcoin<\/a> to their balance sheet. If true all we can say is thank you Max Keiser! https:\/\/t.co\/3f2Tnn0avs<\/a><\/p>\n

\u2014 Anthony Scaramucci (@Scaramucci) March 3, 2024<\/a><\/p><\/blockquote>\n