Investing.com – The cryptocurrency sector is undoubtedly having its best time of the year. The has passed the $41,000 mark and bets are already starting to be placed on the ability of the world’s largest cryptocurrency to recover.
Some analysts even dare to estimate the value of $100,000 in 2024.
Bitcoin has appreciated 130% this year so far, which is a lot considering the pessimism in the sector heading into 2022 and 2023.
“It seems like 2023 was a year of preparation for the upcoming bull market. But the sentiment is very optimistic for 2024 and 2025,” says Pascal Gauthier, CEO of Ledger, in an interview with CNBC.
He is not the only one. Last week, the Standard Chartered Bank (LON:) reported that bitcoin is expected to reach $100,000 by the end of next year.
The digital currency’s last all-time high, at nearly $69,000, was reached in November 2021.
Since then, the cryptocurrency sector has been hit by a litany of problems, from the collapse of coins and projects to bankruptcies and criminal trials. FTX, once one of the world’s largest exchanges, has collapsed and its founder, Sam Bankman-Fried, faces more than 100 years in prison after being convicted of seven counts of criminal fraud, reminds CNBC.
And if that wasn’t enough, Binance CEO Changpeng Zhao pleaded guilty to criminal charges and resigned as CEO as part of a $4.3 billion settlement with the U.S. Department of Justice.
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