2024

Bitcoin

Standard

Spot

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 <p class="paragraph">With Bitcoin (BTC) surging past $69,000, questions about new all-time highs and its potential price in 2024 are becoming increasingly prominent. Many experts have weighed in, but the most influential opinions come from financial institutions and their analysts.</p>
 <p class="paragraph">Recently, Standard Chartered made one of the most bullish predictions. Analysts from this leading international cross-border bank predicted that Bitcoin could reach new all-time highs above $73,700.&nbsp;</p>
 <p class="paragraph">This projection, which is slightly higher than the cryptocurrency’s previous peak, comes with an ambitious and unexpected timeline.</p>
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 <h2 class="wp-block-heading" id="h-bitcoin-s-new-all-time-high-already-in-a-couple-of-days">Bitcoin’s new all-time high already in a couple of days</h2>
 <p class="paragraph">Geoff Kendrick, Head of EM FX Research, West, and Crypto Research at Standard Chartered, has made a bullish prediction for Bitcoin, the maiden cryptocurrency.&nbsp;</p>
 <p class="paragraph">Kendrick stated that BTC is poised to surpass its previous all-time high reached on March 14, 2024, potentially reaching approximately $73,798. He expects this significant surge to occur by the weekend, attributing the potential increase to recent inflows into Spot Bitcoin ETFs.</p>
 <p class="paragraph">On May 21, data from <em>Farside Investors</em> indicated that Spot Bitcoin ETFs had their best inflow week in the last two months, with US funds collectively seeing $948 million in positive net flows from May 13 to May 17.&nbsp;</p>
 <p class="paragraph">Since their launch on January 11, Spot Bitcoin ETFs have recorded inflows exceeding $13 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>. This increased demand and influx of capital contributed to Bitcoin’s previous rise to a new all-time high in March and could drive further surges in the cryptocurrency’s value.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-over-150-000-by-the-end-of-2024-thanks-to-ethereum">Bitcoin over $150,000 by the end of 2024 thanks to Ethereum</h2>
 <p class="paragraph">Kendrick has also revealed that the potential approval of Ethereum (ETH) Spot ETFs by the United States Securities and Exchange Commission (SEC) could significantly impact Bitcoin’s price dynamics.&nbsp;</p>
 <p class="paragraph">He has reiterated his earlier prediction that Bitcoin could rise to $150,000 by the end of 2024 and reach an impressive $200,000 in 2025.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/800-billion-standard-chartered-predicts-bitcoin-to-hit-150k-this-year-tbt89383.html">https://thebittimes.com/800-billion-standard-chartered-predicts-bitcoin-to-hit-150k-this-year-tbt89383.html</a></p>

$800 billion Standard Chartered predicts Bitcoin to hit $150k this year

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