Bitcoin: $100,000 still in sight for 2024 according to this bank


Good reasons to believe it. Far from the predictions which see Bitcoin at several million dollars in a few years, the venerable British bank Standard Chartered projects itself on the figure of 100,000 dollars by 2024. No crystal ball here, but only the alignment of several factual elements which could trigger an increase in the price of the number 1 asset in the crypto sector. Let’s see it together.

Bitcoin at $100,000 before the end of 2024…

Standard Chartered is a British bank founded in the mid-19th century which mainly deals in business with emerging countries and it is precisely the head of this sector who took part in the game of predictions. Geoff Kendrickalso in charge of the institution’s cryptocurrency sector, and his team therefore delivered their analysis of the market and highlighted several events which could be catalysts for the price of Bitcoin.

Unsurprisingly, the future approval of one or more spot Bitcoin ETFs is among these triggers:

“We believe a number of spot ETFs will now be approved in Q1 2024 for BTC and ETH, paving the way for institutional investment. »

Geoff Kendrick and the Standard Chartered teams – Source: CoinDesk

The British bank Standard Chartered predicts a rise in the price of Bitcoin which could touch $100,000 before the end of 2024. The reasons are the next halving but above all the approval of spot Bitcoin ETFs.
Bitcoin’s rise in 2024 could be linked to the approval of spot Bitcoin ETFs as well as the upcoming halving

…According to the English Bank Standard Chartered

Then, the second event which could also have an impact on the price of the first cryptocurrency on the market is obviously the next halving, scheduled for spring. Historically, this has always been the case and analysts at Standard Chartered therefore think that there is no reason why things will be different in 2024.

The conclusion of their remarks is clear: “Everything is going as planned!” » Better, it could be that all this happens even sooner:

“We now expect the price rise to materialize further ahead of the halving, notably through the earlier-than-expected introduction of spot ETFs in the United States. This makes us say that the level of 100,000 USD could be reached before the end of 2024.”

Geoff Kendrick and the Standard Chartered teams – Source: CoinDesk

The bank’s statements are its own and the analysis of these experts should not be taken at face value. Everyone can be wrong and Bitcoin could just as easily return to the cellar at the start of the year thanks to a series of unfortunate events. It is therefore advisable to be careful with your investments, in order to take full advantage of the end-of-year holidays. So we’re meeting Geoff Kendrick’s team in 2024 to take stock of their predictions, which are still much more reasonable than others… who perhaps still believe in Santa Claus?



Source link -95