JAKARTA, RAKYAT NEWS— The two largest cryptocurrencies, Bitcoin and Ethereum, are predicted to see significant gains, with Bitcoin (BTC) reaching $150,000 and Ethereum (ETH) hitting $8,000.

Geoffrey Kendrick, a market analyst at Standard Chartered Bank, shared a bullish outlook for BTC and ETH. He anticipates substantial inflows into Bitcoin and Ethereum spot markets, which he believes will drive BTC prices higher by the end of 2024.

Standard Chartered has also set a target for ETH, forecasting a 116% increase based on smart contract prices. According to Coinmarketcap, Ethereum is currently trading at $3,830 USD (approximately Rp 61,940,091), while Bitcoin is trading at $68,720 USD (around Rp 1,114,318,150).

The recent approval of the Ethereum spot ETF by the SEC has garnered significant attention. This decision is seen as a strategic move that could provide broader access to investors and enhance overall market liquidity.

This approval is expected to positively impact Ethereum’s future value, marking a new era for investors seeking exposure to digital assets through more traditional and regulated instruments. It is anticipated that trading activity will increase on both centralized and blockchain-based exchanges.

The combination of the spot ETF approval and the Bitcoin halving event is expected to significantly influence the prices of Bitcoin and Ethereum, along with other altcoins, throughout the year. According to The Motley Fool, the bullish momentum for altcoins will also be driven by the Financial Innovation and Technology for the 21st Century Act (FIT21), which aims to clarify regulatory authority over the crypto sector, ensuring its safety without hindering growth. This legislative milestone is crucial for crypto asset regulation.

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