en.bitcoinsistemi.com
According to Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered Bank, Bitcoin is predicted to reach an all-time high by the end of the week.
This prediction comes in light of the potential approval of spot Ethereum ETFs this week; Kendrick believes these funds will further legitimize the cryptocurrency industry and have a positive impact on Bitcoin.
“I expect Bitcoin to reach its all-time high of $73,798, March 14, by the end of the week,” Kendrick said in a recent email. Kendrick also expressed increased optimism this week about the potential approval of spot $ETH ETFs, reinforcing his confidence in price targets of $150,000 for Bitcoin by the end of 2024 and $200,000 by the end of 2025.
Kendrick noted that inflows into spot Bitcoin ETFs have increased in recent days, with the total reaching an all-time high of $12.9 billion.
This rally comes after the SEC requested an update to its 19b-4 filings for spot Ethereum ETFs on Monday, indicating potential progress toward approval. The first round of spot $ETH ETF deadlines is fast approaching, with VanEck's filing deadline being May 23 and Ark Invest/21Shares' filing deadline being May 24.
*This is not investment advice.