Bitcoin, the main cryptocurrency in the market, could reach $100,000 by the end of 2024. This was predicted by the British bank Standard Chartered on Monday, saying that the so-called “crypto winter” had come to an end.
He Bitcointhe main cryptocurrency on the market could reach $100,000 by the end of 2024. This was predicted by the British bank Standard Chartered on Monday, saying that the so-called “crypto winter” has come to an end.
Bitcoin could benefit from factors including recent turmoil in the banking sector, a stabilization in risk assets as the US Federal Reserve ends its rate hike cycle, and higher profitability from crypto mining, it said in a note. Standard Chartered’s head of digital asset research Geoff Kendrick.
“While sources of uncertainty remain, we think the path towards the $100,000 level is becoming clearer.Kendrick wrote.
Bitcoin has rallied so far this year, topping $30,000 in April for the first time in ten months. The gains represent a partial recovery after trillions of dollars were wiped out of the cryptocurrency sector in 2022, when central banks raised interest rates and a number of cryptocurrency companies collapsed.
Standard Chartered’s view closely parallels that of celebrity investor Mark Mobius, who recently forecast a drop to as low as $10,000 for the queen cryptocurrency. Mobius has acknowledged that he would not invest his or his clients’ money in any digital assets as they are “too dangerous” at the moment.
On the contrary, Tim Draper has redoubled his bet on bitcoin and has assured that it will reach the level of US $ 250,000 next year. To reach this level, the largest cryptocurrency in the world would have to rebound more than 1,000%.
Source: Ambito
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