Will Bitcoin Rally To $100,000 Before 2025? This Bank Says 'Things Are Moving...'
Portfolio Pulse from Khyathi Dalal
Standard Chartered (OTC:SCBFY) predicts Bitcoin (CRYPTO: BTC) will reach $100,000 by 2024, citing increased market dominance and potential approval of spot ETFs for BTC and ETH in Q1 2024. The upcoming Bitcoin halving event in April 2024 is also expected to drive prices up. Bitcoin's price recently surpassed $38,000, influenced by positive inflation data and Federal Reserve policy. The COP28 will feature a Bitcoin mining delegation, indicating Bitcoin's growing relevance in global discussions.
November 29, 2023 | 2:25 pm
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POSITIVE IMPACT
Standard Chartered's reaffirmed prediction of Bitcoin reaching $100,000 by 2024 may reflect positively on the bank's foresight and analytical capabilities, potentially enhancing its reputation among investors.
The bank's reaffirmation of its Bitcoin price target could be seen as a positive indicator of its research and analysis strength, which might attract investors looking for expertise in cryptocurrency trends.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70