Experts at Standard Chartered Bank expect the price of Bitcoin to grow significantly. The prerequisite is the approval of a spot ETF.
Anticipation surrounding the potential approval of a Bitcoin Spot ETF has led analysts to formulate optimistic price projections. Standard Chartered Bank, in particular, envisions a scenario where Bitcoin could ascend to $200,000 by the conclusion of 2025 if the ETF receives regulatory approval.
The bank posits an expected influx of capital ranging from 50 to 100 billion US dollars into Bitcoin for the year 2024, contingent upon the approval of the ETF. This influx could result in the accumulation of between 437,000 and 1.32 million Bitcoin within the ETF by the year’s end.
In a report, analysts Geoff Kendrick and Suki Cooper articulated their perspective, stating, “If ETF-related inflows develop as we expect, we believe levels near $200,000 in late 2025 are possible.” They underscored the significance of a Bitcoin ETF approval, characterizing it as a “watershed moment” that could substantially impact the distribution and acceptance of the cryptocurrency.
The report further indicates an imminent expectation of approval later this week, marking a potentially transformative development in the trajectory of Bitcoin’s market dynamics.
Bitcoin Price Forecast 2025 – Technical Analysis
As shown in the chart above, the BTC price has sustaining since last 1 month and now trading above the demand zone. It will be crucial to see BTC will be able to sustain and surpass the rejection level as shown in the chart above.
BTC Price Prediction and Technical Analysis using Pivot Point Standard and Fibonacci Retracement
It is pivotal to assess whether BTC can maintain its current price level. The analysis utilizing Fibonacci Retracement reveals a notable upward movement in the price, potentially leading to a 50% retracement and approaching the pivot point at $41,000. Given the current trading value of BTC at $45,925, the decline appears moderate, particularly considering the robust demand zone within the range of $39,000 to $41,000.
An alternative hypothesis is based on the interplay between price range and time range dynamics. According to this theory, the previous all-time high (ATH) required approximately 378 days to materialize. Given historical occurrences such as halving events and significant government adoption of Bitcoin, it is plausible that a comparable timeframe, or possibly a shorter duration, could lead to a new ATH of $160,000 by July 2, 2024.
This speculative projection hinges on a sustained and positive trend in Bitcoin adoption, encompassing both institutional entities and governmental bodies. If such trends persist, the attainment of a $160,000 valuation within the specified time frame becomes a viable scenario.
As of my last knowledge update, many countries around the world have varying degrees of Bitcoin and cryptocurrency adoption. Please note that the regulatory environment and acceptance of cryptocurrencies can change, so it’s essential to verify the latest developments. Here’s a list of countries known for their cryptocurrency adoption:
- United States: Cryptocurrency usage and acceptance are widespread, with many businesses accepting Bitcoin as a form of payment.
- Japan: Recognizes Bitcoin as a legal form of payment, and the country has a well-established cryptocurrency market.
- South Korea: Has a significant cryptocurrency user base, and several businesses accept Bitcoin.
- Germany: Known for its open approach to cryptocurrencies, with businesses and individuals using Bitcoin.
- Switzerland: Home to the “Crypto Valley” in Zug, Switzerland has a favorable regulatory environment for cryptocurrencies.
- Netherlands: Bitcoin is widely accepted, and there is a growing interest in blockchain technology.
- Canada: Known for its cryptocurrency-friendly regulations, and several businesses accept Bitcoin.
- Australia: Cryptocurrencies are widely accepted, and the country has a growing blockchain industry.
- Singapore: Has a progressive approach to cryptocurrency regulation and is a hub for blockchain development.
- United Kingdom: Bitcoin is widely used and accepted, with a well-established cryptocurrency market.
- Estonia: Known for its e-residency program, Estonia has been exploring blockchain and cryptocurrency applications.
- Malta: Often referred to as the “Blockchain Island,” Malta has proactively embraced cryptocurrencies and blockchain technology.
- Brazil: Has a growing cryptocurrency community, and Bitcoin is used for various transactions.
- Argentina: Bitcoin is gaining popularity as a store of value and a means of transferring funds.
- South Africa: Cryptocurrencies are used, and there is growing interest in blockchain technology.
- Kenya: Bitcoin is utilized for remittances and as an alternative investment.
- Nigeria: Cryptocurrencies are increasingly used for remittances and as an alternative to traditional banking.
- India: While the regulatory environment is evolving, there is a growing interest in cryptocurrencies.
- Russia: Cryptocurrencies are legal, and there’s a developing crypto market in the country.
- United Arab Emirates (UAE): Dubai, in particular, has shown interest in adopting blockchain technology.
Remember to check for the latest regulations and developments in each country, as the cryptocurrency landscape is dynamic, and changes may occur.
Bitcoin Prediction Table by Changelly
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2024 | $65,328.89 | $67,680.65 | $79,660.76 |
| 2025 | $91,212.28 | $94,596.31 | $116,161.17 |
| 2026 | $137,736.96 | $141,520.83 | $160,700.19 |
| 2027 | $206,041.47 | $211,702.31 | $235,915.78 |
| 2028 | $290,269.85 | $298,737.94 | $353,582.81 |
| 2029 | $422,086.13 | $434,035.65 | $502,367.25 |
| 2030 | $615,030.00 | $636,731.78 | $721,877.13 |
| 2031 | $890,741.59 | $916,210.86 | $1,077,921.69 |
| 2032 | $1,281,712.54 | $1,318,360.97 | $1,557,456.94 |
| 2033 | $1,919,413.89 | $1,972,148.34 | $2,236,505.82 |
| 2040 | $2,899,058.05 | $2,997,665.45 | $3,155,437.32 |
| 2040 | $2,899,058.05 | $3,096,272.87 | $3,293,487.72 |
| 2050 | $3,727,360.35 | $3,845,689.23 | $3,964,018.14 |
| 2050 | $3,628,752.92 | $3,806,246.28 | $3,983,739.63 |
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