Large British bank expects Bitcoin and Ethereum prices to rise COINLIFE.COM

The lower limit of the bitcoin price can lie in the region of $ 50 thousand.

Standard Chartered, one of the leading UK banks, has released its first report on the cryptocurrency market. According to information, to which the journalists got access, analysts of the credit institution expect bitcoin to stay in the range from 50 thousand to 175 thousand dollars for a long time. For Ethereum, the price is predicted in the range from 26 thousand to 35 thousand dollars, however, as analysts emphasize, in order for Ethereum to be in these cost limits, it is required for Bitcoin to reach 175 thousand dollars.

Noting that their forecast points to a potentially higher rate of growth in the price of Ethereum than Bitcoin, analysts emphasize that investments in Ethereum carry a greater market risk than investments in cryptocurrency # 1.

Speaking about the essence of cryptocurrencies, the bank sees bitcoin as a financial instrument, but Ethereum is perceived by them as an innovative financial ecosystem with a large range of financial services.

On the dynamics of Ethereum, there is a more modest forecast from Bloomberg analyst Mike McGlone: ​​expecting height bitcoin prices up to 100 thousand dollars by the end of this year, he predicts rise of Ethereum to a price point of 5 thousand dollars.

For Standard Chartered, interest in cryptocurrencies is not new. For example, the bank is supporting the launch of a digital asset trading platform that will target institutional clients in the UK and continental Europe. Standard Chartered partnered with BC Group, which operates the Hong Kong-based OSL trading floor, in this endeavor.

Additionally, Standard Chartered-backed UK crypto custodian provider Zodia Custody Limited received July 15, official registration with the key financial regulator of Foggy Albion – the Financial Conduct Authority (FСA).

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