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COINTURK NEWS > Bitcoin (BTC) > Standard Chartered Predicts Ethereum and Bitcoin Reach New Price Levels
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Standard Chartered Predicts Ethereum and Bitcoin Reach New Price Levels

In Brief

  • Standard Chartered predicts Ethereum may reach $10,000 soon.

  • Bitcoin is expected to surpass $200,000 under new political conditions.

  • Increased interest in cryptocurrencies indicates potential market growth.

Fatih Uçar
Fatih Uçar 6 months ago
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Standard Chartered recently made a bold prediction, forecasting that Ethereum $2,550 will reach $10,000 in the near future, increasing hopes in the cryptocurrency market. The report also anticipates that Bitcoin $103,531 will experience a significant surge, surpassing $200,000. This optimistic outlook correlates with recent developments such as Donald Trump’s election victory and a 25-basis-point rate cut by the Federal Reserve this week, which have contributed to positive momentum in digital assets.

Contents
High Targets for Ethereum and BitcoinCrypto-Friendly Policies Under TrumpIncreased Interest in the Crypto MarketNext Steps and Expectations

High Targets for Ethereum and Bitcoin

According to Standard Chartered’s report, the total market value of the cryptocurrency market is expected to quadruple by the end of 2026, coinciding with the U.S. midterm elections. With the current market capitalization of approximately $2.5 trillion, this implies a potential rise to $10 trillion.

The leading financial institution reiterated its $10,000 target for Ethereum, suggesting that the second-largest cryptocurrency by market capitalization could exceed this level by the end of 2025, providing additional assurance amid the current strong market rally.

Crypto-Friendly Policies Under Trump

“Donald Trump’s presidency will encourage the adoption of crypto-friendly policies and increase digital asset acceptance in the short term.” – Geoffrey Kendrick, Head of Research at Standard Chartered

Geoffrey Kendrick, Head of Research at Standard Chartered, pointed out factors supporting this optimistic forecast, including a Republican victory and anticipated regulatory clarity. Kendrick emphasized that Trump’s presidency would promote crypto-friendly policies, boosting the adoption of digital assets.

Additionally, the firm expects the SEC, under Republican leadership, to adopt a more lenient stance towards cryptocurrency markets, fueled by recent reports suggesting SEC Chairman Gary Gensler may leave his position this year.

Increased Interest in the Crypto Market

Leading crypto market expert Ali Martinez indicated that Ethereum surpassing $3,000 marks only the “beginning” of the bull market. Martinez previously suggested that ETH could mirror a trend similar to the S&P 500 and might reach $10,000 in the coming days.

Furthermore, ETH’s price increased by 4% today, rising above $3,000, with trading volume reaching $32.76 billion. The Open Interest in Ethereum futures also rose by 4%, reflecting market confidence in the leading altcoin.

Next Steps and Expectations

Standard Chartered reiterated its prediction that Bitcoin will reach $200,000. The report mentions that cryptocurrencies like Bitcoin and Solana $174 are expected to benefit the most under the new administration. It also notes that if the U.S. recognizes Bitcoin as a strategic reserve, it could strongly support a surge in cryptocurrencies, although the likelihood of such a development is deemed low.

Finally, ETH price analyses indicate that the next target for the cryptocurrency is $4,000, further supporting the potential for Ethereum to rise to $10,000 next year.

These positive developments in the cryptocurrency market offer new opportunities for market participants. Achieving high targets for major cryptocurrencies like Ethereum and Bitcoin could represent a significant milestone for the acceptance of digital assets and market dynamics.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 9 November, 2024 - 10:07 pm 9 November, 2024 - 10:07 pm
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