This post was originally published on Coinspeaker
Key NotesStandard Chartered says ETF flows, corporate treasury demand, and policy tailwinds could push BTC price to $200,000.Bitwise had earlier predicted a $200,000 price level for Bitcoin, citing similar catalysts.The asset manager strongly believes that more public companies will learn from Strategy’s Bitcoin playbook.
Standard Chartered has made a bold Bitcoin BTC $109 140 24h volatility: 2.7% Market cap: $2.17 T Vol. 24h: $32.63 B price prediction, stating that the cryptocurrency will reach $200,000 by the end of this year.
The bank’s justification for this optimistic price level is based on Exchange Traded Fund (ETF) flows, corporate treasury demand, and policy tailwinds.
Catalysts For a Potential Bitcoin Price Rally
To start, Standard Chartered predicted that BTC will reach $135,000 by the end of the third quarter. It reaffirmed that the coin will reach $200,000 by the end of the year.
This means that the coin would have almost doubled its current price level. At the time of writing, the BTC price is currently at $107,442.13, following a 0.91% rally over the last 24 hours.
Bitcoin Daily Price Chart | Source: CoinMarketCap
The justification for Standard Chartered’s
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