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<p><strong>The success of Bitcoin ETFs prompts Standard Chartered Bank to raise its year-end price forecast.</strong></p>
<h2 id="h-bitcoin-at-250-000-or-even-more">Bitcoin at <strong>$250,000</strong> or even more</h2>
<p>Standard Chartered Bank has raised its Bitcoin price forecast target to $150,000 from a previously envisioned <a href="https://www.cointribune.com/en/bitcoin-standard-chartered-anticipates-100000-soon/" target="_blank" rel="noopener noreferrer nofollow">$100,000</a>.</p>
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<p>This new target is justified by the continued influx of capital into ETFs launched in the United States in January. The <a href="https://www.cointribune.com/en/bitcoin-etf-new-record/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> from BlackRock and Fidelity are in the top 5 of the ETF ranking by volume recorded since the beginning of the year.</p>
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    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">JUST IN: Blackrock and Fidelity Bitcoin ETFs are now both in the TOP 5 ETFs by YTD flows.<a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FBTC</a> <a href="https://t.co/jL2GpC3tdC" rel="noopener noreferrer nofollow">pic.twitter.com/jL2GpC3tdC</a></p>— Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1769699944443650367?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 18, 2024</a>
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<p><em>“For 2024, given the greater-than-expected rise in bitcoin since the start of the year, we now estimate that the price of bitcoin could reach $150,000 by the end of the year. That’s 50% more than our previous estimate of $100,000”</em>, state analysts at Standard Chartered Bank in a report published this Monday.</p>
<p><em>“Most of the incoming flows will likely be sticky flows such as pension funds”</em>, it reads. In other words, the bubble might not burst as it did last time, when FTX’s collapse triggered a retreat of more than 70%…</p>
<p>For the end of the year 2025, Standard Chartered Bank maintains its target of $200,000.</p>
<p>These targets are based on a parallel with the impact of ETFs on gold in the 90s. And also on the anticipation that traditional investment portfolios will replace 20% of their gold allocation with bitcoin.</p>
<p>The $250,000 threshold could even be reached earlier if the ETFs manage to attract $75 billion. So far, ETFs have absorbed more than $15 billion. We are currently on a pace of about $500 million per day.</p>
<p>Standard Chartered also sees bitcoin surpassing its target if “foreign exchange reserve managers” (central banks) were to purchase bitcoins.</p>
<p><em>“It is increasingly likely that major reserve managers will announce the purchase of BTC in 2024”</em>, they suggest.</p>
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<p>Is the time for speculation over? Will bitcoin climb without a hitch to $200,000?</p>

Bitcoin – Standard Bank raises its target by 50%

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