Standard Chartered Bank Predicts Bitcoin $BTC.X To Reach $100,000

[Sophie Robert]

Standard Chartered made news in April when they predicted a lofty objective of $100,000 for Bitcoin by the end of 2024, signalling their conviction that the dreaded "crypto winter" had finally ended.


Geoff Kendrick, the bank's senior foreign exchange analyst, offered an even more optimistic perspective, speculating that the original projection might really be "upside" by 20%.

The bullish forecasts from Standard Chartered are motivated by an expected shift in miner dynamics. Currently, mining operations take place all around the world and produce over 900 new bitcoins per day.

The bank thinks that these miners, who normally sell their newly created currencies to offset their high electricity expenses, would soon discover that they have fewer bitcoins to sell. It is anticipated that this decrease in selling pressure would significantly accelerate the rise in Bitcoin's price.

Moreover, Bitcoin Maximalists like Michael Saylor expect the Bitcoin value to reach $1 Million by 2030.

CoinPedia’s bitcoin price prediction say's that BTC price to reach a new all-time high of $347,783 by 2030.


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[cryptoworld1]

Maybe Bitcoin, the world's largest cryptocurrency, has been stealthily rising in 2023. Bitcoin's value could jump to as much as $100,000 by the end of 2024, Standard Chartered said in a note published Monday.