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Standard Chartered Bank has revised its forecast for Bitcoin’s price, anticipating a significant surge in value up to $150,000 by the end of 2024. 
<a href="https://crypto.news/bitcoin-price-will-hit-120000-in-2024-standard-chartered-believes/" data-type="link" data-id="https://crypto.news/bitcoin-price-will-hit-120000-in-2024-standard-chartered-believes/">Previously</a> predicting a milestone of $120,000, this upward revision follows a period of “sharper-than-expected price gains” for Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>). 
Furthermore, the bank envisions even more substantial gains in the following year, with a forecasted price of $250,000 for Bitcoin in 2025. The optimism is grounded in the anticipated impact of ongoing spot <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/">Bitcoin ETF</a> inflows and the forthcoming <a href="https://crypto.news/tag/bitcoin-halving/" data-type="link" data-id="https://crypto.news/tag/bitcoin-halving/">Bitcoin halving</a> event, factors expected to bolster the asset’s value. 
 You might also like: <a href="https://crypto.news/binances-user-asset-holdings/"> Binance’s user asset holdings exceed $100b </a> 
Geoffrey Kendrick, one of Standard Chartered’s leading analysts, draws a parallel between Bitcoin and gold, suggesting that Bitcoin’s trajectory mirrors that of gold following the approval of gold ETFs in the United States. Based on the <a href="https://crypto.news/jpmorgan-bitcoin-outpaces-gold-in-investor-portfolios/" data-type="link" data-id="https://crypto.news/jpmorgan-bitcoin-outpaces-gold-in-investor-portfolios/">analogy</a>, the bank projects a potential price increase for Bitcoin, aligning with portfolio optimization strategies. 
To achieve the optimal portfolio balance, Kendrick proposes allocating 80% to gold and 20% to Bitcoin. This balance, he argues, necessitates a Bitcoin price increase to $190,000 to maintain the desired allocation. 
Kendrick also <a href="https://crypto.news/standard-chartered-foresees-ethereum-etf-approval-by-may-23/" data-type="link" data-id="https://crypto.news/standard-chartered-foresees-ethereum-etf-approval-by-may-23/">predicts</a> that the SEC will approve U.S. <a href="https://crypto.news/tag/ethereum-etf/" data-type="link" data-id="https://crypto.news/tag/ethereum-etf/">Ethereum ETFs</a> by May 23, first with rejections and then mass approval, similar to the commission’s approach to the Bitcoin ETFs, which were approved on Jan. 11. 
 Read more: <a href="https://crypto.news/bloomberg-ethereum-etf-approval-may/"> Bloomberg analyst: 35% chance of spot Ethereum ETF approval by May </a>

Standard Chartered: Bitcoin to reach $150k by end of 2024

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