The Standard Chartered (STAN) raised its year-end forecast for bitcoin’s price to USD 150,000 from USD 100,000.

The bull run of the digital crypto asset, the Bitcoin, is far from over and is likely to continue for the years to come as the Standard Chartered (STAN) raised its year-end forecast for bitcoin’s price to $150,000 from $100,000.

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Before settling around $200,000 next year, the BTC will also reach a high for the cycle of $250,000 next year.

“We think the gold analogy – in terms of both ETF impact and the optimal portfolio mix – remains a good starting point for estimating the ‘correct’ BTC price level medium-term,” it said in a note.

“If ETF inflows reach our mid-point estimate of $75billlion, and/or if reserve managers buy BTC, we see a good chance of an overshoot to the $250,000 level at some stage in 2025,” it added.

Notably, Standard Chartered based its analysis on a comparison with the price of gold after gold exchange-traded funds (ETFs) were introduced in the U.S. and a correlation between ETF inflows and the BTC price. Spot bitcoin ETFs started trading in the US in January.

The bank further said that the Securities and Exchange Commission could approve an ether (ETH) ETF on May 23, leading to inflows of as much as $45 billion in the first 12 months and ETH reaching around $8,000 by the end of 2024.

“In 2025, we see the ETH-to-BTC price ratio rising back to the 7% level that prevailed for much of 2021-22,” Standard Chartered said in a separate note.

“Given our estimated BTC price level of USD 200,000 at end-2025, that would imply an ETH price of $14,000,” it added.

Weekly net inflows and trading volume for US spot bitcoin ETFs hit record levels last week as bitcoin reached fresh all-time highs before retreating sharply.

As per the reports, the net inflows for the ten spot bitcoin ETFs combined reached $2.57 billion last week. This was up 15% from the $2.24 billion worth of inflows generated the week prior.