Ethereum (ETH) to Quintuple in Value Over Next Few Years? Standard Chartered Bank's Price Prediction

In a bold forecast, Jeff Kendrick, the head of foreign exchange research at Standard Chartered Bank, predicts Ethereum (ETH) could soar to $8,000 by 2026.

With Layer 2 scaling solutions and upcoming industry developments in focus, this article sheds light on the various factors that could significantly influence the price of Ethereum and why Standard Chartered Bank is bullish on the crypto's future.

Jeff Kendrick Forecasts a Price of $8,000 by End of 2026

Jeff Kendrick, the head of foreign exchange research at Standard Chartered Bank, has stated that the price of Ethereum (ETH) could quintuple and reach $8,000 by the end of 2026, according to multiple reports.

Ethereum is renowned for its capabilities to execute smart contracts automatically.

Kendrick posits that the price of ETH will surge due to its established superiority in this area, along with emerging demands in gaming and tokenization.

Kendrick also touched on the growth of Layer 2 scaling solutions, suggesting that upcoming upgrades could contribute to reduced network transaction fees.

This would fortify Ethereum's edge in smart contracts and likely further push up its price.

Other Factors that Could Influence ETH and BTC Prices

The cryptocurrency industry is currently focused on topics like the "physical ETFs for Bitcoin and Ethereum" and the "Bitcoin halving expected around next April." These events are also believed to potentially drive up the prices of BTC and ETH.

It's worth noting that Kendrick expects the price of ETH to reach $4,000 by the end of 2024. For the long term, he forecasts a price range between $26,000 and $35,000.

Standard Chartered Bank also has a bullish outlook on the future of BTC, predicting its price could reach $50,000 by the end of 2023 and $120,000 by the end of 2024.