Crypto Winter Is Over — Bitcoin Could Reach $100K Next Year – Markets and Prices Bitcoin News
Standard Chartered says the cryptocurrency winter is over and Bitcoin could reach $100,000 per coin by the end of next year. The World Bank analyst identified several factors contributing to the rise in cryptocurrency prices, including the recent turmoil in the banking sector.
Standard Chartered Bank on Bitcoin reaches $100,000
Standard Chartered World Bank He said The “crypto winter” ended on Monday and Bitcoin could reach $100,000 by the end of 2024.
Jeff Kendrick, Head of Digital Asset Research at Standard Chartered, explained in a note that Bitcoin will benefit from various factors. They include recent turmoil in the banking sector, the stabilization of risky assets as the US Federal Reserve ends the cycle of higher interest rates, and the enhanced profitability of cryptocurrency mining. The analyst wrote:
While sources of uncertainty remain, we believe that the path to the $100,000 level is becoming clearer.
An increasing number of individuals and analysts have recently expressed optimism regarding the prospects for bitcoin and the cryptocurrency market in general. At the time of writing this report, BTC It is trading at $27,464, down from the high of over $30,000 in the previous week. However, the cryptocurrency is up 65% since the beginning of the year.
In March, the CEO of investment management firm Vaneck said, “We are at the early beginnings of what could be a multi-year cycle” in gold and bitcoin while a commodity strategist at Bloomberg Intelligence stated that a super cycle could occur in BTC. In February, Pantera Capital said that we are indeed in the next Bitcoin bull cycle. Anticipates Rich Dad Poor Dad author Robert Kiyosaki BTC To continue rising, he predicted that the price of the largest cryptocurrency would reach $500,000 by 2025.
What do you think of Standard Chartered Bitcoin Forecast? Do you think Bitcoin will reach $100,000 by the end of next year? Let us know in the comments section below.
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