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Bitcoin will surge 115% from current levels to $100,000 either late this year or early next year, and could reach $175,000 per BTC in the long term, Standard Chartered’s cryptocurrency research team has forecast.
The bank’s team said it “structurally” values bitcoin between the range of $50,000 to $175,000. “Cyclically, we expect a peak around $100,000 in late 2021 or early 2022,” they said in a note Tuesday.
It also sees the current price of Ethereum’s native token ETH rising tenfold to between $26,000 to $35,000. No time period was specified for the price target.
In other trending Bitcoin News today: SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies.
The United States Securities and Exchange Commission, or SEC, has approved the Volt Crypto Industry Revolution and Tech ETF, providing investors with easy access to companies with significant exposure to Bitcoin (BTC).
The exchange-traded fund, which was approved on Tuesday, is intended to track so-called “Bitcoin Industry Revolution Companies,” which are defined as entities that hold a majority of their net assets in BTC or derive a majority of their earnings from Bitcoin mining, lending or transacting, according to an SEC filing.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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