Bitcoin To Skyrocket To $100K By Late 2024: Standard Chartered
Portfolio Pulse from Benzinga Neuro
Standard Chartered predicts Bitcoin (BTC) will reach $100,000 by late 2024, citing factors such as Bitcoin's market dominance, miner accumulation, and potential approval of Bitcoin spot ETFs in the U.S. The bank's forecast is also influenced by the expectation of diminishing Treasury yields, which could drive investors towards cryptocurrencies as long-term trades. The upcoming Bitcoin halving event in April is expected to reduce new supply and historically has led to a price peak within 12-18 months.
November 29, 2023 | 8:14 am
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Standard Chartered's prediction of Bitcoin reaching $100,000 by late 2024 could lead to increased investor optimism and potentially drive up Bitcoin's price in the short term.
The prediction by a reputable financial institution like Standard Chartered can create a bullish sentiment among investors, especially when it is based on factors such as market dominance and the upcoming Bitcoin halving event. This could lead to increased buying pressure and a rise in Bitcoin's price in the short term. However, predictions are speculative and actual market conditions could vary.
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