Bitcoin Hitting $100,000 by 2024 End: Standard Chartered

CS Web Team
By CS Web Team 2 Min Read

Standard Chartered predicts Bitcoin to reach $100,000 by 2024, highlighting its market recovery and potential growth factors.

Bitcoin (BTC) is expected to hit a historic high of $100,000 by the end of 2024, according to Standard Chartered Bank. This forecast is made in light of the notable rebound that Bitcoin has shown this year after a difficult 2022.

After a stunning surge in 2023 that saw its value soar by 130%, Bitcoin’s journey has been extraordinary. Compared to the digital asset’s performance in the previous year, this comeback is striking. In addition to being a continuation of their previous estimate from April, Standard Chartered’s prognosis takes into account the present growth trajectory of Bitcoin.

The first Spot Bitcoin ETF to be introduced in the US is one of the reasons for the price surge of Bitcoin. Investor interest in Bitcoin has increased as a result of this development, which has raised its value. The bank also emphasizes that a key element in Bitcoin’s potential future growth is its market domination.

An additional noteworthy occasion approaching is the anticipated halving of Bitcoin. The value of the cryptocurrency is anticipated to increase as a result of this process, which lowers the quantity of Bitcoins allocated for mining. Significant expansion is possible because of the halving as well as the general optimism surrounding Bitcoin and its success.

The forecast made by Standard Chartered highlights how volatile the bitcoin market is even though it is hopeful. Bitcoin’s sustained growth and market domination are essential to the bank’s outlook. Bitcoin is still a major participant in the industry as it changes, and the upcoming year may see it reach new heights in terms of both value and impact.

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