Says Crypto Winter is Over, Standard Chartered Researcher Optimistic Bitcoin (BTC) Can Touch US$100,000 in 2024
A researcher from Standard Chartered said that the crypto winter is over. According to him, it is likely that Bitcoin (BTC) will touch the price of US$100,000 by the end of next year.
According to a report from Geoff Kendrick, head of digital asset research at Standard Chartered, the price of Bitcoin could reach US$100,000 by the end of 2024.
“We see potential for Bitcoin (BTC) to reach the US$100,000 level by the end of 2024, as we believe the much-hyped ‘crypto winter’ is finally over,” Kendrick wrote in the report titled “Bitcoin – Pathway to the USD 100,000 level”.
Furthermore, Kendrick mentioned that Bitcoin could benefit from several factors. These include the recent instability in the banking sector, stabilization of risk assets due to the end of the Federal Reserve’s interest hike cycle, and increased profits from crypto mining.
With all the uncertainties, Kendrick believes that the road to the US$100,000 level is becoming increasingly clear.
So far, Bitcoin itself has managed to skyrocket beyond the US$30,000 mark for the first time in 10 months, in early April. The increase reflects a slight recovery after the crypto sector lost a trillion dollars in 2022, which was the result of the US central bank’s interest rate hike and the collapse of many well-known crypto companies.
