Standard Chartered Analyst Says Bitcoin Will Reach New ATH Above $73,700, You Won't Believe The Timeline


Standard Chartered analysts anticipate Bitcoin might reach fresh highs over $73,700. This prediction is somewhat higher than the cryptocurrency's last peak and has an unexpectedly ambitious timescale.

Bitcoin, the world's biggest cryptocurrency, is expected to rise, according to Standard Chartered's Geoff Kendrick. Kendrick told TheBlock in an email that Bitcoin would break out of its all-time high on March 14, 2024, and skyrocket to $73,798.

The expert predicts Bitcoin will reach the price objective by the weekend in current bullish rise. Spot Bitcoin ETF inflows may explain this price surge, according to Kendrick.

Early on May 21, Farside investors reported Spot Bitcoin ETFs' strongest inflow week in two months. IBIT, BlackRock's Bitcoin Trust ETF (IBIT), had the greatest inflows of $290 million.

Since January 11, Spot Bitcoin ETFs have received almost $13 billion in inflows. This increasing demand and money, which helped Bitcoin reach a new all-time high in March, might spur future gains.

Kendrick also said that the SEC's approval of Ethereum Spot ETFs might significantly affect Bitcoin's price. The researcher predicts Bitcoin will soar to $150,000 by 2024 and $200,000 in 2025.

Bitcoin is now selling at $70,013, down 1.39% in 24 hours, according to CoinMarketCap. Over the previous week, the cryptocurrency has seen regular price spikes, leading to a 12.86% rise.

According to popular crypto researcher Michael van de Poppe, Bitcoin is up over 20% from its $56,000 lows earlier this year. The SEC's approval of Spot Bitcoin ETFs caused a big price increase for the pioneer cryptocurrency, thus an Ethereum Spot ETF might raise its price further.

Crypto expert Ali Martinez believes Bitcoin has high price potential and fundamentals, indicating a bullish breakout.


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