The excitement around the arrival of bitcoin ETFs and the subsequent surge to new highs for the cryptocurrency is making even bitcoin bulls raise their expectations. Standard Chartered's head of digital assets research, Geoff Kendrick, said in a note to clients Monday that he is raising his already high estimates for bitcoin's trajectory.
The post-ETF rally for bitcoin has some similarities in what happened with gold, the physical asset that the digital currency has often been compared to. Kendrick said the behavior of gold after the introduction of its ETFs is one reason for optimism that the bitcoin rally can go even higher in 2025, along with other factors like projected total ETF inflows of $75 billion.
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