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Standard Chartereds latest research notes offer a very bullish outlook for the major digital assets, Bitcoin (BTC) and Ethereum (ETH), by the end of 2024 and beyond. The banks analysts project Bitcoin could reach $150,000, while Ethereum could hit the $8,000 mark.

These projections come amidst a backdrop of significant developments in the crypto space, including the launch of Bitcoin spot Exchange-Traded Funds (ETFs) and Ethereums recent Dencun upgrade.

The banks research delves deep into the factors propelling Bitcoins potential surge to $150,000 by year-end. Central to this projection is the influence of Bitcoin spot ETFs, which, since their launch on January 11, have seen rapid inflows exceeding increases in open interest.

According to the bank, this suggests a more robust and sustainable positioning for Bitcoin, distinct from previous speculative peaks. Rapid inflows to the new Bitcoin (BTC) spot ETFs have dominated [] Most of the inflows are likely to be sticky pension-type flows, Geoff Kendrick and Suki Cooper elucidate, highlighting the newfound stability in Bitcoin investment trends.

Three pivotal analyses form the cornerstone of Standard Chartereds Bitcoin valuation:

Standard Chartered notes that these three measures suggest that $200,000 is the correct end-2025 price level for BTC, [] and that it is likely to be the new midpoint for a sideways trading range at that time.

Further the research notes that an overshoot to $250,000 is likely at some point in 2025 if ETF inflows continue apace and/or reserve managers buy BTC. Previously, the bank only predicted a Bitcoin price of $100,000 by the end of 2024.

Ethereums expected climb to $8,000 by the end of 2024 is anchored in two transformative developments: the Dencun upgrade and the expected approval of ETH spot ETFs. The recent Dencun upgrade, by significantly lowering transaction costs on layer 2 blockchains, enhances Ethereums competitive edge.

Ethereum (ETH) has just undergone the Dencun upgrade, which dramatically lowers the cost of transactions [] making ETH more competitive, the research notes.

The forecast also hinges on the anticipation of US SEC approval for ETH ETFs by May 23, a decision poised to catalyze substantial inflows into Ethereum. Drawing from the Bitcoin ETF experience, Standard Chartered expects similar enthusiasm for Ethereum, with projected inflows of 2.39-9.15 million ETH (equivalent to roughly $15-45 billion).

This substantial capital infusion is seen as a crucial lever for Ethereums price surge. We expect significant ETF-driven inflows to ETH [] This could drive ETH to the $8,000 level by end-2024, the bank elaborates, underscoring the parallel potential for growth akin to Bitcoins trajectory.

Looking further ahead, Standard Chartered ventures into the terrain of 2025 predictions, where the bank sees the ETH-to-BTC price ratio ascending back to the 7% level, a hallmark of the 2021-22 period.

This adjustment forecasts an Ethereum price of $14,000 by the end of 2025, given the projected Bitcoin level of $200,000. Such a scenario underscores the banks optimism about the enduring value proposition and growth potential of these leading digital assets in the medium term.

At press time, BTC traded at $68,401.

Featured image created with DALLE, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Standard Chartered: Bitcoin To $150k, ETH To $8k By Year-End - NewsBTC