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Standard Chartered Bank has revised its Bitcoin price prediction target, raising it to $150,000 by the end of the year, up from its<a href="https://thecoinrise.com/standard-chartered-predicts-bitcoin-at-120k-by-2024-end/" rel="noopener noreferrer nofollow"> previous estimate of between $100,000 and $120,000</a>.
The decision to increase the target arises<a href="https://thecoinrise.com/record-bitcoin-etf-inflows-propel-btc-to-new-ath-of-73637-47/" rel="noopener noreferrer nofollow"> as a result of ongoing robust inflows into newly launched spot Bitcoin exchange-traded funds (ETFs)</a> in the United States, alongside the favorable price momentum of Bitcoin. These factors were highlighted by analysts at Standard Chartered Bank, with Geoffrey Kendrick leading, in a report issued on Monday.
<h2 id="b-portfolio-optimization-the-case-for-bitcoin-and-gold-b">Portfolio Optimization: The Case for Bitcoin and Gold</h2>
Analysts observe that the rise in investment in spot Bitcoin ETFs is outpacing the increase in open interest for Bitcoin derivatives. They highlight that while open interest levels are nearing those seen in 2021, the current market positioning seems more stable, largely driven by long-term pension-style investments.
Standard Chartered Bank continues to uphold its Bitcoin price projection of $200,000 by the end of 2025. This forecast draws parallels with the historical movement of gold prices after the introduction of U.S. gold ETFs, alongside a portfolio optimization approach advocating an 80% allocation to gold and 20% to Bitcoin.
<h2 id="b-bitcoin-s-trajectory-in-2025-b">Bitcoin’s Trajectory in 2025</h2>
The analysts clarify that for Bitcoin to reach the 20% allocation suggested by portfolio optimization, its price would have to increase to $190,000, assuming the gold price remains constant. The current price of <a href="https://thecoinrise.com/standard-chartered-predicts-bitcoin-at-120k-by-2024-end/" rel="noopener noreferrer nofollow">Bitcoin is hovering around the $68,300.18 mark.</a>
&nbsp;Yet, the bank anticipates Bitcoin could exceed this goal if spot Bitcoin ETF inflows meet their estimated midpoint of $75 billion or if foreign exchange reserve managers start acquiring Bitcoin. Under these circumstances, analysts envision Bitcoin’s price could potentially hit $250,000 sometime in 2025.
<h2 id="b-bitcoin-impact-on-foreign-exchange-reserve-b">Bitcoin Impact on Foreign Exchange Reserve</h2>
They emphasize the importance of foreign exchange reserves as a substantial and potentially influential capital source, indicating that if reserve managers mimic the approach of new U.S. pension investments, Bitcoin might experience substantial inflows from this domain. The analysts indicate an increasing probability of major reserve managers revealing Bitcoin acquisitions in 2024, thereby amplifying positive sentiment towards the cryptocurrency.
They highlight the significance of foreign exchange reserves as a sizable and potentially influential source of capital, suggesting that if reserve managers follow the lead of new U.S. pension investments, Bitcoin could see significant inflows from this sector. The analysts express a growing likelihood of large reserve managers announcing Bitcoin purchases in 2024,<a href="https://thecoinrise.com/bitcoin-btc-shiba-inu-shib-bulls-drive-raffle-coin-raff-presale-predicting-an-explosive-25x-surge/" rel="noopener noreferrer nofollow"> further fueling bullish sentiment</a> for the cryptocurrency.
The post <a href="https://thecoinrise.com/bitcoin-price-standard-chartered-sets-year-end-target-at-150k/" rel="noopener noreferrer nofollow">Bitcoin Price: Standard Chartered Sets Year-End Target at $150,000</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitcoin Price: Standard Chartered Sets Year-End Target at $150,000

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