Standard Chartered Says Bitcoin Still Headed For $150,000 Amid “Perfect Storm”

Leading multinational bank, Standard Chartered, has doubled down on its previous price prediction of Bitcoin amid crippling market volatility and BTC’s turbulent performance. Currently, the price of Bitcoin (BTC) is miles below its previous all-time high of more than $73,000 in March, reflecting a decline of about 8.53% over the past month.

This series of price declines in the world’s most popular cryptocurrency could be attributed to recent trends revealing that large-scale investors are beginning to sell off their Bitcoin (BTC) to potentially diversify into other promising crypto projects like ETFSwap (ETFS) and alternative cryptocurrencies in the space.

Despite Bitcoin’s recent price declines, Standard Chartered remains bullish on the cryptocurrency, predicting a surge to new all-time highs this year.

Standard Chartered’s Bitcoin $150,000 Price Target Reaffirmed

A new note from international cross-border bank, Standard Chartered has highlighted a potential bullish turnaround in Bitcoin’s price. According to analysts at the bank, the present market conditions are represented by lower leverage that could potentially cultivate a conducive environment for a price appreciation in Bitcoin (BTC).

Analysts from the bank have maintained an optimistic view of Bitcoin’s (BTC) recent price performance, suggesting that the worst of the market decline was over. They also predicted that Bitcoin (BTC) was now poised for a positive trend supported by more genuine demand rather than speculative buying.

Furthermore, Standard Chartered reaffirmed its previous price target for Bitcoin (BTC), anticipating the price of the cryptocurrency to surge to $150,000 by the end of 2024. The international bank made a similar bullish prediction for Ethereum (ETH), foreseeing the second-largest cryptocurrency to rise to $8,000 by the same timeline.

Earlier in March, analysts from the cross-border bank had predicted the price of Bitcoin (BTC) to surge to $150,000 by the end of 2024 and $250,000 at some point in 2025. They disclosed that the price surge may be fueled by the massive inflows from Spot Bitcoin ETFs offered by lead investment asset firms like BlackRock and Fidelity and crypto ETF platforms like ETFSwap (ETFS).

Additionally, the bank has revealed that Bitcoin (BTC) could follow a similar bullish trajectory seen in gold’s value after the launch of gold ETFs.  At the time of writing, the price of Bitcoin (BTC) is trading at $64,053, reflecting a price decrease of $0.85% over the past 24 hours.

ETFSwap Emerges As A Haven Amidst Market Storms And Cryptocurrency Volatility

Within the volatile cryptocurrency market, ETFSwap (ETFS) demonstrates even greater resilience than Bitcoin (BTC), taking advantage of market unpredictability to attract users to a safer investment alternative. By offering the purchase and trade of institutional ETFs, ETFSwap (ETFS) exposes users to a myriad of trading and potentially profit-generating opportunities.

This innovative crypto project is ahead of many other projects in the space in terms of decentralization, user experience, and ETF product offerings. It also allows users to trade both spot and future cryptocurrency ETFs as well as leveraged and commodity ETFs all in one decentralized platform.

Traders can access diverse trading benefits and solutions, including automatic rewards, staking rewards, yield generation from transaction fees, low trading costs, and more. Furthermore, ETFSwap (ETFS) ensures that its trading environment is inclusive and transparent for its users, utilizing the power of blockchain to bolster security and decentralization.

Users will remain anonymous while trading on this innovative platform. This ensures that their sensitive information is safe and their identities are protected. Moreover, ETFSwap (ETFS) does not require KYC registration. As such, traders do not have to worry about interference from government or regulatory agencies.

With each passing minute, crypto investors are snapping up ETFS tokens at an alarming pace, taking advantage of its currently low value to amass as many tokens as possible. The price of each token is presently at $0.00854 in the first stage of its presale, but by the second presale stage, the ETFS price is slated to surge to $0.01831.


For more information about the ETFS Presale: 

Visit ETFSwap Presale

Join The ETFSwap Community


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