Ethereum Could Top $14,000 Next Year Alongside Bitcoin Boom: Standard Chartered

Ethereum has the potential to reach $14,000 next year, according to analysts at Standard Chartered. In addition to their bullish stance on Bitcoin, the British multinational bank believes that Ethereum’s price could hit $8,000 by the end of this year. However, the analysts note that this prediction is contingent on the approval of spot Ethereum exchange-traded funds (ETFs). Several high-profile fund managers have filed paperwork with the Securities and Exchange Commission (SEC) to release Ethereum ETFs, and Standard Chartered expects regulatory approval by the summer. The recent upgrade of the Ethereum network, known as the Dencun upgrade, may also contribute to the cryptocurrency’s rapid growth. Developers claim that this upgrade will drastically reduce transaction fees on the blockchain, making Ethereum more competitive. Furthermore, Standard Chartered predicts that Bitcoin could reach $150,000 per coin by the end of this year if the newly approved Bitcoin ETFs remain popular. The approval of 11 investment vehicles by the SEC in January has generated significant investor interest and has driven up the price of Bitcoin.