Standard Chartered are forecasting Bitcoin to $150,000 in 2024

Standard Chartered cite the surge of inflows, “sticky’ institutional flows, into exchange-traded funds (ETF) and say if inflows continue strongly then BTC will keep rising:

• “For 2024, the $150,000 level now looks likely”
• “For end-2024, we raise our long-held price estimate to the $150,000 level from $100,000 given the more rapid pass-through from ETF inflows to the BTC price to date.”

For 2025 STanChart’s view is that if ETF inflows hit $75bn or if reserve managers start accumulating BTC it raises a strong possibility of a move to 250K.

Old hat

This article was written by Eamonn Sheridan at www.forexlive.com.