Bitcoin will hit $200,000 by the end of 2025: Standard Chartered Bank

Amid the hype of Bitcoin spot ETF application approval speculations, the Standard Chartered Bank shared its big prediction on Bitcoin trade price. 

The current trade price of the top market cap asset, Bitcoin (BTC), is $47k & this trade price is 6% high YTD (Year to date). Bitcoin trade price showed a big rally of nearly 170% in the last 12 months, because of the hype around Bitcoin spot ETF applications which are in the final phase of approval on the table of the United States Securities and Exchange Commission (SEC). 

Amid the sudden rally in the trade price of Bitcoin, a prediction by Standard Chartered Bank came, which is enough to inject huge confidence among long-term Bitcoin holders. 

On 8 Jan 2023, Geoffrey Kendrick, the head of financial research at Standard Chartered Bank, shared a Bitcoin price prediction note with the investors.

Bank predicted that the trade price for Bitcoin will be $200,000 by Dec 2025 because of the constant flow of money in the Bitcoin market because of Bitcoin spot ETF products.

According to this banking giant, approval of these Bitcoin spot ETF products will help to inject up to $100 billion into the Bitcoin market in the next 12 months.

Notebely $200k trade price prediction by this bank is the lowest price of Bitcoin & it can be $1.4 million maximum in the next couple of years.

Earlier this, on Thursday of last week, a similar kind of prediction came from Bloomberg senior ETF analyst Eric Balchunas, who predicted that the Bitcoin market will secure nearly $10 billion in year one but in the short term, we can’t predict much. 

In short, the impact of Bitcoin spot ETF products will be huge in the long term & in this initial phase we should not expect much.

Read also: Former SEC chairman says “It is a big step not just for Bitcoin, but for finance generally”