According to Reuters, the banking giant Standard Chartered said that Bitcoin will reach $100,000 in late 2021 or early 2022, followed by a similar rise in Ethereum, which the banking giant estimates will reach $26,000 – $35,000 (10 times its current price).
Of course, in order for Ethereum’s price predictions to become a reality, Bitcoin must first reach $175,000.
Earlier this month Standard Chartered announced that its Global Research team has initiated coverage of crypto assets with in-depth reports on Bitcoin (BTC) and Ethereum (ETH).
Members of the bank’s Asia-focused global research team said they rated credit card providers’ transactions and current valuations as a benchmark.
“As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,”Geoffrey Kendrick – Head of Standard Chartered’s new crypto research unit.
To arrive at the valuation of bitcoin, they used the “financial market vs. currency” index and examined the market capitalization of credit card providers against possible transactions in the non-banking sector.
For Ethereum they said they compared the value of global banks to the value of global credit card companies.