In a recent bold prediction, Standard Chartered stated that Ethereum’s price could potentially reach $10,000 in the near future, fueling optimism amid the ongoing rally.
Moreover, the report also noted that in addition to ETH, Bitcoin is also gearing up for a major surge northward, with the potential to reach the $200,000 level.
This prediction comes at a time when the overall digital asset market is showing positive momentum, influenced by Donald Trump’s victory in the election as well as the Fed’s 25 basis points rate cut this week.
Standard Chartered Predicts Ethereum Price to Break $10,000
In a recent report, Standard Chartered predicted a 4-fold surge in the total crypto market capitalization until the US midterm elections in late 2026. With the current market capitalization hovering around $2.5 trillion, this prediction, if proven correct, suggests that the market capitalization could reach $10 trillion by that time.
Additionally, the leading financial company reiterated its previous target for Ethereum at $10,000. Standard Chartered stated that Ethereum, as the second-largest crypto by market capitalization, could break that level by the end of 2025, which further boosts market optimism amid the current strong rally.
Meanwhile, Standard Chartered’s Head of Research, Geoffrey Kendrick, attributed this optimistic prediction to several factors such as the recent Republican victory, the prospect of clearer regulation, and others.
Kendrick asserts that Donald Trump’s presidency is likely to encourage the adoption of crypto-friendly policies, which in turn could accelerate the adoption of digital assets in the short term.
$3,000 ETH is the Start of the Bull Run Rise
In addition, the firm also predicted that the US SEC will take a softer stance towards the crypto market under a Republican administration. This has caused quite a buzz, especially after reports that SEC Chairman Gary Gensler is likely to step down from his post as soon as this year.
Interestingly, renowned crypto market analyst Ali Martinez voiced a similar view by mentioning that Ethereum’s $3,000 price milestone is just the “beginning” of an upward bull run.
Previously, Martinez said that ETH could follow a trend like the S&P 500 index and potentially reach $10,000 in the near future.
What’s Next for ETH and BTC?
The bank also reiterated its prediction that Bitcoin price will reach $200,000 along with Ethereum’s $10,000 milestone.
The report mentioned that Bitcoin and top altcoins such as Solana and ETH are expected to benefit the most under the new administration.
In addition, Standard Chartered is also considering the possibility of the US using Bitcoin as a national strategic reserve, which could support the crypto’s price surge. However, the bank notes that the likelihood of such a development is still quite low.
However, Donald Trump has previously stated his intention to make BTC a US strategic reserve, and Senator Cynthia Lummis also recently confirmed the same.
As of writing (11/11/24), the price of BTC rose 5.81% to $81,692. Moreover, strong inflows into the US Spot Bitcoin ETF reflect the growing institutional support for this crypto.
Recent reports suggest that many new wallets have also started accumulating BTC, as the appeal of this crypto continues to rise among traders. Reinforcing this sentiment, Ali Martinez highlighted that more than 57,800 BTC has been accumulated over the past few days, with a value of approximately $4.16 billion.
On the other hand, ETH prices rose 2.54% and surpassed $3,100 today, with trading volumes reaching $47.70 billion. In addition, the Open Interest on Ethereum Futures also rose by 4%, indicating strong market confidence in this leading altcoin.
Amidst this trend, the US Spot Ethereum ETF has also started to show strong demand again, indicating further upside potential. Recent Ethereum price analysis suggests that the crypto is targeting the $4,000 level as the next step, supporting its potential rise to $10,000 by next year.
