According to the British bank, Standard Chartered, the main cryptocurrencies will experience huge jumps in their prices thanks to the current rally in that digital asset market. Thus, analysts from that firm project that the price of ETH will reach $10,000. Meanwhile, Bitcoin will reach $200,000 per coin.
In a recent analysis, the strategists of this financial institution highlight the enormous potential of the crypto market, especially by 2025. The economic and political conditions in the United States are projected to be very favorable for an explosive increase in demand for the main cryptocurrencies.
This positive forecast occurs in a context in which two important factors caused a strong revival of optimism. These events are Donald Trump’s victory in the United States and the new 0.25% rate cut by the Federal Reserve. By 2026, the bank expects 4X growth in the market capitalization of the crypto world.
If this prediction comes true, the capitalization of the crypto market will go from the current $2.5 billion to $10 billion. This implies that the price of fundamental assets such as ETH or Bitcoin will reach a huge price in the coming months. The firm’s analyst, Geoffrey Kendrick, considers Trump’s policies as the main catalyst.
ETH and BTC price are in early stages of rally
Chartered’s positive predictions assume Bitcoin’s 2024 rally is a preamble. In that sense, by 2025 there will be a series of changes that will cause enormous adoption by citizens in the United States and the rest of the world.
The Trump administration would move toward fulfilling promises of sector-friendly policies. Among the policies that generate the most enthusiasm are the new regulations for the sector, which would nullify the possibility of new wars against the crypto world in future governments. In addition, the incorporation of Bitcoin into the strategic reserves of the North American country is counted.
Specific elements such as the dismissal of Gary Gensler as chairman of the SEC will also generate enormous buying pressure. With all these elements in perspective, the aforementioned analyst considers that the path is clear for the price of ETH to reach $10,000. At the same time, the price of Bitcoin will have no problem reaching $20,000 per coin, according to the expert.
At the time of writing, these coins are showing outstanding performance in terms of 24 hours and 7 days. In the first case, Bitcoin presents +0.64% and Ethereum +4.15%. In one week, this performance extends to +10.41% and +22.31% respectively. These data correspond to the CoinMarketCap portal (GMT: 15:20) this Saturday, November 9.
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