Standard Chartered, a global banking giant, projects that Bitcoin's price could surge to nearly $200,000 by the end of 2025, contingent on the approval and success of Bitcoin ETFs in the United States. This prediction is based on the expectation that these ETFs could attract inflows ranging from $50 to $100 billion in 2024.

The bank's forecast hinges on the assumption that U.S.-listed spot Bitcoin ETFs could hold between 437,000 to 1.32 million Bitcoin by the end of 2024. Geoff Kendrick, head of digital assets at Standard Chartered, and precious metals analyst Suki Cooper believe this could propel Bitcoin's price to approximately four times its current value of $47,000.

Drawing parallels with the growth of gold exchange-traded products after their launch in November 2004, Kendrick and Cooper anticipate similar gains for Bitcoin. However, they expect these gains to materialize over a shorter period of one to two years, due to the faster development of the Bitcoin ETF market.

They regard the approval of spot Bitcoin ETFs as a critical milestone in normalizing Bitcoin investment. This latest price projection aligns with the bank's previous forecast of Bitcoin reaching $100,000 by the end of 2024.

Meanwhile, Jamie Coutts of Pragmatic Blockchain Research emphasized the importance of Bitcoin's network fundamentals, which he claims are at an all-time high. Despite this, Coutts notes that Bitcoin's price remains 40% below its peak, suggesting it is undervalued.

Conversely, Mike McGlone of Bloomberg Intelligence expressed caution, doubting Bitcoin's ability to sustain a rally post-ETF approval. During a recent talk show, McGlone advised against increasing Bitcoin investments at this stage, pointing to the asset's high risk and the market's current optimism, which he compares to previous market peaks.