While investors are now waiting for a rally after a difficult 2022, famous bank Standard Chartered analysts announced their Ethereum prediction.
Standard Chartered Bank said Ethereum has the potential to reach $8,000 by the end of 2026, The Block reported.
The report, written by Geoffrey Kendrick, head of crypto research at Standard Chartered, included the following statements:
“We think Ethereum's established dominance in smart contract platforms, along with emerging uses in gaming and tokenization, has the potential to push ETH to $8,000 by the end of 2026 (5x its current price of $1,600).
The Bitcoin halving, which will take place in April 2024, will have a positive impact on all cryptocurrencies, especially Ethereum, the second largest cryptocurrency.
As a result, we think potential regulation and spot ETFs in the US will benefit ETH as much as BTC.
At this point, all these factors could potentially push the Ethereum price to $4,000 by the end of 2024; this price is still below Ethereum's previous peak price of $4,866, achieved in late 2021.
“We expect $8,000 by the end of 2026.”
Finally, Kendrick stated that the $ 8,000 level specified for ETH is seen as the first step on the way to the long-term forecast range between $ 26,000 and $ 35,000, which the bank previously stated.
Standard Chartered analysts stated in their previous report that they thought Bitcoin could reach $50,000 in 2023 and $120,000 by the end of 2024.
*This is not investment advice.
