Standard Chartered Predicts Bitcoin Price Will Reach $200,000 by Year-End
Standard Chartered predicts that Bitcoin will reach $200,000 by the end of 2023, supported by several factors:
- Projected price of $135,000 by Q3 2023.
- Current BTC price is $107,442.13 after a 0.91% increase in 24 hours.
- Growing ETF inflows and corporate treasury demand as key drivers.
- 245,000 BTC acquired by spot ETFs and treasury buyers in Q2, with expectations for increased acquisition in Q3 and Q4.
- Recent significant purchases by firms like MicroStrategy and Metaplanet.
Analysts expect corporate treasuries to buy more BTC in Q3 due to favorable conditions such as potential changes in Federal Reserve leadership and new stablecoin regulations.
Bitwise has also shared a similar $200,000 prediction but highlights different catalysts, focusing on institutional demand and regulatory developments.