- Standard Chartered predicts the cost of Bitcoin hitting $100,000 by 2024’s finish.
- The conjecture was launched in a single of the recent notes on Monday.
- The report predicts BTC’s market cap to increase towards the 50–60% range.
While 2022 was relatively and not the best year for Bitcoin along with other cryptocurrencies, 2023 has emerged to become just the opposite. 2023 observed the cost of Bitcoin rise by almost 64% YTD, based on CoinMarketCap data.
However, new projections have surfaced that indicate the cost of Bitcoin will soar greater. Standard Chartered mentioned inside a recent note on Monday they expect the cost of Bitcoin to leap up to $100,000 through the finish of 2024.
Standard Chartered Predicts BTC hitting $100,000
Standard Chartered analyst Geoff Kendrick pointed out within the observe that the collapse of banks, including Plastic Valley Bank yet others, made BTC’s stance robust like a “decentralized, trustless, and scarce digital asset.”
Kendrick mentioned within the report: “We see possibility of Bitcoin (BTC) to achieve the USD 100,000 level by finish-2024, once we believe balance-touted crypto winter is finally over.”
The note also stresses the market cap of BTC could transfer to the 50–60% vary from its current 45%. Bitcoin has already established a comparatively good year, because it has risen from the yearly low of $15,599 to the touch a higher of $31,005. However, at press time, BTC had dropped to $27,258 having a .83% stop by value during the last 24 hrs.