CryptoNews

Standard Chartered Bank: Crypto Winter Is Over — Bitcoin Could Reach $100K Next Year

crypto winter
Standard Chartered says crypto winter has ended and the price of bitcoin could reach $100K per coin by the end of next year. The global bank’s analyst has identified several factors contributing to the surge in the price of the cryptocurrency, including the recent turmoil in the banking sector.

Standard Chartered Bank on Bitcoin Hitting $100K

Global bank Standard Chartered Monday that “crypto winter” is over and the price of bitcoin could reach $100,000 by the end of 2024.

Standard Chartered’s head of digital assets research, Geoff Kendrick, explained in a note that bitcoin stands to benefit from various factors. They include the recent turmoil in the banking sector, a stabilization of risky assets as the U.S. Federal Reserve ends its cycle of interest rate hikes, and the enhanced profitability of cryptocurrency mining. The analyst wrote:

While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer.

A growing number of individuals and analysts have recently expressed optimism regarding the outlook for bitcoin and the overall cryptocurrency market. At the time of writing, is trading at $27,464, down from above $30K a week prior. However, the cryptocurrency is up 65% year-to-date.

In March, the CEO of investment management firm Vaneck said that “We are at the very beginnings of what could be a ” in gold and bitcoin while Bloomberg Intelligence’s commodity strategist stated that a may be happening in . In February, Pantera Capital said that we’re already in the for bitcoin. Rich Dad Poor Dad author Robert Kiyosaki expects to , predicting that the price of the largest crypto will reach .

What do you think about Standard Chartered’s bitcoin prediction? Do you think the price of bitcoin will reach $100K by the end of next year? Let us know in the comments section below.

Source: Bitcoin

Related posts
AI & RoboticsNews

AI risk management startup ValidMind raises $8.1M to help banks comply with regulations

DefenseNews

Amid faltering domestic program, Taiwan orders more MQ-9B drones

DefenseNews

BAE demos platform that gives Army AMPVs turret system options

DefenseNews

US Army’s fresh look at watercraft includes unmanned options

Sign up for our Newsletter and
stay informed!