Bitcoin – Standard Chartered anticipates $100,000 coming soon

Everything is going according to plan for Standard Chartered Bank which reiterated its April prediction that bitcoin would reach $100,000 by the end of 2024.

Bitcoin – 100 potatoes

The next catalyst will be the approval of several US-based spot bitcoin ETFs. These ETFs should intervene “should arrive sooner than expected” according to American bank analysts.

“We believe a number of ETFs will be approved in the first quarter of 2024 for BTC, paving the way for institutional investment”they said.

Alongside this anticipation of the SEC, Standard Chartered Bank also notes that the next halving will be another source of price increases.

As a reminder, halving means that the issuance of bitcoins will decrease by half from April 2024. The monetary inflation rate of bitcoin will then officially become half that of gold.

For Standard Chartered, this alignment of the planets should allow bitcoin to reach $100,000 as early as April.

“BTC’s dominance remains intact. Its share of the overall digital assets market increased from 45% in April to 50% »we can read in the note.

It is also possible that bitcoin will reach the $100,000 mark before the end of the year:

“We expect the upside to materialize primarily before the halving, particularly through the earlier-than-expected introduction of ETFs. This suggests a risk that the USD 100,000 level will be reached before the end of 2024, as previously anticipated. »

Hold!

Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

Similar Posts