Standard Chartered: Bitcoin Will Reach an All-time High This Weekend
According to Geoff Kendrick, the potential approval of a spot Ether exchange-traded fund (ETF) this week would not only legitimize the cryptocurrency sector, but also have a positive impact on Bitcoin.
Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered Bank, expressed his expectations for a new all-time high in Bitcoin by the weekend, surpassing the $73,798 level on March 14.
He also shared his confidence in his long-term price targets of $150,000 by year-end 2024 and $200,000 by year-end 2025, thanks to the renewed optimism surrounding the potential approval of spot Ether ETFs.
Kendrick noted that recent days have shown more positive trends, with increased inflows into spot Bitcoin ETFs, reaching a new all-time high of $12.9 billion.
