Standard Chartered sees great advantage in Ethereum, Bitcoin

Source: Adobe / Igor Golovnev

Ethereum (ETH) could rise up to 10x compared to current prices, while Bitcoin (BTC) will rise almost 4x, according to predictions from a new crypto-focused research team at the UK multinational bank Standard Chartered.

The bullish predictions were made in a report titled Ethereum Investor Guide, released on Tuesday this week by the bank’s new crypto team. And according to the team, ETH will benefit the most from both, as investors fully appreciate the platform’s potential.

“A range of $ 26,000 to $ 35,000 may seem high compared to the current ETH price (just under $ 4,000), but we believe the current price is about both the relative complexity of ETH (compared to BTC) and the uncertainty reflects the development of ETH ”, Standard wrote the Chartered analysts.

In addition, they estimate that ETH will grow not only in US dollars but also relative to BTC, saying that “the Ethereum-Bitcoin cross will double to 0.161, a level at which ETH’s market capitalization will match that of BTC would catch up ”.

At 12:58 UTC on Wednesday, the ETH to BTC ratio was 0.074, less than half of the bank’s target ratio.

To get to these potential ratings, the report’s authors said they used an analogy of Ethereum as “the global banking system for crypto,” much like they used the analogy that “Bitcoin eventually becomes crypto, which cash is for global finance is “in their Bitcoin Investor Guide.

The researchers went on to explain that applying these analogies would give Bitcoin a low-end market cap of around $ 1 trillion, or a price of $ 50,000 per bitcoin – which happens to be close to the current price. At the high end, however, the bank said Bitcoin will hit $ 100,000 by early next year and up to $ 175,000 in the long run.

Ethereum, on the other hand, would see a much bigger uptrend with a potential market cap of $ 4 trillion, pricing each ETH token at a massive $ 35,000, the report said.

Notably, however, the bank added that “BTC would also have to trade at the high end of its valuation range” for ETH to achieve such a valuation.

The upper end of the bank’s valuation target for Bitcoin is said $ 175,000, almost four times the current Bitcoin price (around $ 46,500).
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