The British multinational banking and financial services firm Standard Chartered is initiating a spot cryptocurrency trading platform for bitcoin and ethereum, Bloomberg sources reveal. Sources Say Standard Chartered Ready to Launch Bitcoin and Ethereum Trading Operations On June 21, Bloomberg’s Emily Nicolle cited sources knowledgeable about the plans, stating that Standard Chartered is on the […]
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Standard Chartered Predicts Bitcoin to Hit $100K Pre-Election, $150K if Trump Wins
Standard Chartered expects bitcoin to climb to 0,000 as the U.S. presidential election approaches and potentially reach 0,000 if former U.S. President Donald Trump wins. The bank’s head of digital asset research cites Trump’s perceived crypto-friendly stance as key for this bullish outlook for bitcoin. Trump’s administration is seen as fostering a supportive regulatory environment, […]
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Standard Chartered Discusses SEC Approving Spot ETFs for Cryptos Beyond Bitcoin and Ether
Standard Chartered says markets will look ahead to exchange-traded funds (ETFs) of cryptocurrencies other than bitcoin and ether, but “this is likely a 2025 story.” They believe that the SEC approving spot ethereum ETFs suggests that the securities watchdog does not view ether as a security and that other coins similar to ether will also […]
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Standard Chartered Predicts Bitcoin Could Hit All-Time High This Weekend
Standard Chartered’s head of digital asset research, Geoff Kendrick, has predicted a significant rise in bitcoin’s price, potentially surpassing its previous all-time high of ,798 by this weekend. His optimistic outlook is fueled by the anticipated approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), which he believes will […]
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Standard Chartered Analyst Says Bitcoin Is Set For A New ATH Above $73,700, You Won’t Believe The Timeline
Analysts from leading international cross-border bank, Standard Chartered have made a bold prediction that Bitcoin could witness a significant rise to new all-time highs above ,700. This projection, slightly higher than the cryptocurrency’s previous peak, comes with an unexpected and wholly ambitious timeline.
Bitcoin Poised To Reach New All-Time Highs
Geoff Kendrick, Head of EM FX Research, West and Crypto Research, Standard Chartered, has made a bullish prediction for Bitcoin, the world’s largest cryptocurrency. In an email to TheBlock, Kendrick stated that Bitcoin is poised to break out of its previous all-time high on March 14, 2024, to witness a massive surge to approximately ,798.
The analyst has projected a rather grandiose timeline for this bullish rally, expecting Bitcoin to hit the forecasted price target by the weekend. Kendrick attributed this potential price increase to the recent inflows into Spot Bitcoin ETFs.
Earlier on May 21, data from Farside investors indicated that Spot Bitcoin ETFs had recorded their best inflow week in the last two months. The digital asset saw over 5.7 million in inflows, with BlackRock’s Bitcoin Trust ETF (IBIT), amassing the largest inflows of 0 million.
Cumulatively, Spot Bitcoin ETFs have recorded inflows of more than billion from its launch on January 11 to the present. This increased demand and influx of capital which had been a major contributor to Bitcoin’s previous rise to a new all-time high in March, could propel fresh surges for the cryptocurrency.
Kendrick has also disclosed that the possible approval of Ethereum Spot ETFs by the United States Securities and Exchange Commission (SEC) could have a significant impact on Bitcoin’s price dynamics. The analyst has doubled down on his previous price prediction which anticipates Bitcoin’s rise to 0,000 by the end of 2024 and a whopping 0,000 increase in 2025.
BTC Price Analysis
As of writing, the price of Bitcoin is trading at ,013, reflecting a slight decline of 1.39% in the last 24 hours, according to CoinMarketCap. The cryptocurrency has been on a steady bullish momentum over the past week, experiencing consistent price surges, which have led to a sharp increase of 12.86%.
Popular crypto analyst, Michael van de Poppe has reported that Bitcoin is up more than 20% since its previous lows of ,000 earlier this year. The approval of an Ethereum Spot ETF could see the cryptocurrency’s price potentially rising more, following previous patterns when the SEC’s approval of Spot Bitcoin ETFs triggered a major price spike for the pioneer cryptocurrency.
This sentiment for a bullish breakout is shared by crypto analyst Ali Martinez, who has asserted that Bitcoin is currently showing a strong potential for further gains, underscoring the cryptocurrency’s robust price potential and strong fundamentals.
Standard Chartered Now Expects SEC to Approve Spot Ethereum ETFs This Week
Standard Chartered Bank has revised its forecast and now expects the U.S. Securities and Exchange Commission (SEC) to approve spot ethereum exchange-traded funds (ETFs) this week, with the bank’s head of digital asset research expressing 80% to 90% confidence. He estimates potential inflows of billion to billion into ether within the first year […]
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Standard Chartered: Second Trump Term Would Be ‘Broadly Positive’ for Crypto
Standard Chartered Bank predicts that a second term for the Trump administration would create a favorable regulatory landscape, leading to a positive outlook for the crypto sector. The bank has revised its forecast citing improved market sentiment after cautioning that bitcoin’s price could drop to the K range. Standard Chartered on Trump and Crypto Standard […]
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Standard Chartered Bank Analysts Sound Warning Alarm: Bitcoin Price Can Still Drop To $50,000
Leading international cross border bank, Standard Chartered has predicted steep price declines for Bitcoin, foreseeing a pessimistic future outlook for the pioneer cryptocurrency amidst broader market downturn.
Bitcoin Could Plummet To ,000
As of writing the price of Bitcoin is trading above ,000, according to CoinMarketCap. The cryptocurrency has been experiencing massive price drops after the Bitcoin halving on April 20, 2024, further exacerbated by the Federal Reserve’s (FED) decision to keep interest rates unchanged during the Federal Open Market Committee (FOMC) meeting On Wednesday, May 1.
Standard Chartered bank has cautioned investors of more price drops in the future, predicting that Bitcoin’s price could settle between ,000 and ,000, recording more than ,000 loss from it’s all time high of over ,000 in March, 2024. This new forecast follows the bank’s previous projection which anticipated Bitcoin rise to 0,000 by the end of 2024.
The head of Standard Chatered’s forex and digital assets research, Geoffery Kendrick revealed a combination of factors that could drive Bitcoin’s decline in a statement to The Block on Wednesday. Kendrick highlighted broader macroeconomic influences and crypto-specific factors impacting the price of Bitcoin, particularly challenges like the reduction of liquidity measures within the United States since mid-April.
“Liquidity matters when it matters, but with a backdrop of strong US inflation data and less likelihood of Fed rate cuts, it matters at the moment,” Kendrick stated.
Standard Chartered also cited the series of massive outflows witnessed by Spot Bitcoin ETfs in the US, as well as the lackluster performance of Ethereum Spot ETFs in Hong Kong, China.
On May 1, approximately 10 US Spot Bitcoin ETFs recorded staggering outflows, collectively totaling 3.7 million. Kendrick also disclosed that “more than half of the Spot ETF positions are underwater.” He suggests that the risk of liquidity should be considered, especially as investor sentiment may be shifting away from these digital assets.
BTC Price Jumps Over ,000 Amidst Market Downturn
At some point on May 2, Bitcoin had witnessed significant price decreases that pushed its value below ,000. However, currently the cryptocurrency has recorded more than 1.56% increase, spiking by more than ,000 in just a day.
Various analysts have predicted more plunges for the cryptocurrency, expecting Bitcoin to reach its bottom during this bearish period. Analysts like Ali Martinez and Michael van de Poppe anticipate a few more price corrections before the broader market settles, paving the way for Bitcoin to prepare for a potential bullish rebound.
Standard Chartered Warns Bitcoin Price Could Fall to $50K
Standard Chartered Bank has warned that bitcoin’s price could potentially decline to ,000. The head of digital asset research at the bank attributed this forecast to a mix of crypto-specific factors and broader macroeconomic influences. Additionally, he warned about the risk of liquidation for some spot exchange-traded fund (ETF) positions, emphasizing that over half of […]
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Standard Chartered Updates Prediction: Doubts SEC Will Approve Spot Ether ETFs in May
Standard Chartered, which was previously optimistic about the U.S. Securities and Exchange Commission (SEC) approving spot ether exchange-traded fund (ETF) applications in May, has now revised its prediction. The bank still sees a positive long-term future for spot ethereum ETFs. Standard Chartered on Spot Ether ETFs Standard Chartered, previously optimistic about a May approval for […]
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