Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
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 $73,700. This projection, slightly higher than the cryptocurrency\u2019s previous peak, comes with an unexpected and wholly ambitious timeline.\u00a0 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\u2019s 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 $73,798.\u00a0 Related Reading: Crypto Market Liquidations Top $330 Million In 24 Hours With Ethereum In The Lead 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.\u00a0 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 $305.7 million in inflows, with BlackRock\u2019s Bitcoin Trust ETF (IBIT), amassing the largest inflows of $290 million.\u00a0 Cumulatively, Spot Bitcoin ETFs have recorded inflows of more than $13 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\u2019s previous rise to a new all-time high in March, could propel fresh surges for the cryptocurrency.\u00a0 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\u2019s price dynamics. The analyst has doubled down on his previous price prediction which anticipates Bitcoin\u2019s rise to $150,000 by the end of 2024 and a whopping $200,000 increase in 2025. BTC Price Analysis As of writing, the price of Bitcoin is trading at $70,013, 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%.\u00a0 Related Reading: Solana Cup And Handle Pattern Means An At Least 90% Move Against Ethereum, Analyst Says Popular crypto analyst, Michael van de Poppe has reported that Bitcoin is up more than 20% since its previous lows of $56,000 earlier this year. The approval of an Ethereum Spot ETF could see the cryptocurrency\u2019s price potentially rising more, following previous patterns when the SEC\u2019s approval of Spot Bitcoin ETFs triggered a major price spike for the pioneer cryptocurrency.\u00a0 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\u2019s robust price potential and strong fundamentals.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":609299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,6664,26263,14690,83668,89178,84473,83667,89157,86437,84562,84558,8780,92342,92341],"class_list":["post-609282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt","tag-standard-chartered","tag-standard-chartered-analysts","tag-standard-chartered-new"],"acf":[],"yoast_head":"\n
Standard Chartered Analyst Says Bitcoin Is Set For A New ATH Above $73,700, You Won\u2019t Believe The Timeline<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n