Standard Chartered: Bitcoin Will Reach $200K in 2024

According to multinational bank Standard Chartered, the value of Bitcoin could potentially reach $200,000 by the end of 2024, if ETFs for Bitcoin are approved and successful in the United States.

This prediction is based on the assumption that between 437,000 and 1.32 million Bitcoin will be held in US-listed spot Bitcoin ETFs by the end of 2024, amounting to an estimated $50-100 billion in inflows.

Standard Chartered’s head of digital assets Geoff Kendrick and precious metals analyst Suki Cooper stated in a Jan. 8 report that if ETF-related inflows come to fruition, they believe that a price level close to $200,000 by the end of 2025 is possible.

This means that Bitcoin would need to increase 4.3 times from its current price of $47,000.

However, the bank executives also acknowledged that this 4.3x increase is similar to what was seen with gold exchange-traded products around seven to eight years after their launch in November 2004.