Standard Chartered: bitcoin will rise to $ 250,000

British banking giant Standard Chartered believes that the price of the flagship cryptocurrency could soarto $ 250,000 next year.

The bullish price target will be reached if inflows into new exchange-traded funds trading in ETH remain significant. According to the bank’s average estimate, they amount to $ 75 billion.

The extremely high demand for exchange-traded Crypto funds has been the main bullish factor behind the recent rally, which has seen the price of bitcoin reach a recent all-time high of $ 73,737. According to renowned ETF analyst Eric Balchunas, BlackRock and Fidelity bitcoin funds are among the top five ETFs in terms of annual inflows.

At the same time, Standard Chartered analysts do not rule out the possible approval of a spot Ethereum ETF later this spring. If the SEC gives the green light to such a product, the largest alternative cryptocurrency could almost double its price by the end of the year.