{"id":528347,"date":"2023-04-24T18:30:48","date_gmt":"2023-04-24T18:30:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=528347"},"modified":"2024-06-11T08:11:46","modified_gmt":"2024-06-11T08:11:46","slug":"standard-chartered-predicts-bitcoin-could-reach-100000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/standard-chartered-predicts-bitcoin-could-reach-100000\/","title":{"rendered":"Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024"},"content":{"rendered":"

Bitcoin, the world’s most well-known cryptocurrency, has been on a wild ride over the past few years, with its price surging to new highs before crashing back down.\u00a0<\/span><\/p>\n

Despite this, some experts still believe the asset could record new significant highs in a few years to come. At current market prices, Bitcoin has currently decreased by 60% from its all-time high of $69,000 seen in November 2021.<\/span><\/p>\n

BTC Could Reach $100,000<\/h2>\n

According to a <\/span>note<\/span><\/a> from Standard Chartered’s head of digital assets research, Geoff Kendrick, the “crypto winter” may finally be over, and Bitcoin could reach $100,000 by the end of 2024.<\/span><\/p>\n

Kendrick attributes this potential surge in Bitcoin’s price to a number of factors. These include recent turmoil in the banking sector, a stabilization of risk assets as the US Federal Reserve ends its rate-hiking cycle, and the improved profitability of crypto mining.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin (BTC) To Tap Into $30,000 Region Before A Slow Down, Here\u2019s Why<\/a><\/p>\n

Kendrick said these factors are making the pathway to the $100,000 level “becoming clearer.” But while Kendrick acknowledges that there are still sources of uncertainty surrounding Bitcoin, he believes that the potential for Bitcoin to reach $100,000 is very real.\u00a0<\/span><\/p>\n

This prediction is particularly noteworthy given that Bitcoin’s price has already surged so far this year. It rose above $30,000 in April for the first time in 10 months.<\/span><\/p>\n

Bitcoin Price Action In The Past 7 Days<\/h2>\n

Bitcoin has experienced a tumultuous journey in the last week, with its price surging to as <\/span>high as $30,000<\/span><\/a> on April 18 to crashing back down <\/span>below $28,000<\/span><\/a> over the weekend. Over the past 7 days, Bitcoin has been in a downtrend down by nearly 10% in just a week.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Traders Count Losses As Total Liquidations Approach $300 Million<\/a><\/p>\n

The asset’s market cap has also lost some value, as it lost over $20 billion from its market capitalization in the last week. Bitcoin currently trades at $27,479 at the time of writing down by 0.6% in the last 24 hours.<\/span><\/p>\n

\"Bitcoin
Bitcoin price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Several factors contributed to the initial surge in Bitcoin’s price. This includes the fall of United States dollar dominance and the rising US banking crisis, which prompted several traditional bankers to seek another store of value.<\/p>\n

However, the surge was short-lived, and Bitcoin’s price <\/span>crashed back down<\/span><\/a> in the past seven days. This sudden drop in Bitcoin’s price was likely caused by a <\/span>combination of profit-taking from investors<\/span><\/a> who had bought in at lower prices last year, and concerns over increased regulatory scrutiny.<\/span><\/p>\n

Despite this recent volatility, many experts <\/span>remain bullish<\/span><\/a> on Bitcoin’s long-term prospects. As more and more institutions adopt cryptocurrency and retail investors get involved, it seems that Bitcoin will continue to play a significant role in the financial markets for years to come.<\/span><\/p>\n

Standard Chartered’s prediction of a $100,000 Bitcoin price by the end of 2024 may seem ambitious. But it is not an isolated forecast.<\/span><\/p>\n

According to a survey conducted by London-based crypto hedge fund Nickel Digital Asset Management, the majority of professional investors<\/span> believe that Bitcoin is becoming more mainstream<\/a> and that this trend is likely to continue in the coming years. <\/span><\/p>\n

Several other experts including f<\/span>ormer Coinbase Chief Technology Officer (CTO) Balaji Srinivasan <\/span>have made similar predictions, suggesting that Bitcoin could go as high as $1 million<\/a> in the long run. <\/span><\/p>\n

The Coinbase executive went as far as making a bold bet<\/a> on the future of Bitcoin, claiming that the cryptocurrency will surge to $1 million by June 17th. <\/span><\/span>This optimistic forecast is attributed to the rapid devaluation of the US dollar.<\/span><\/span><\/p>\n

However, it’s important to remember that cryptocurrency prices are notoriously volatile and difficult to predict. Though Bitcoin’s price has been on an upward trajectory in recent months, it’s entirely possible that it could experience significant pullbacks or corrections in the future.<\/span><\/p>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, the world’s most well-known cryptocurrency, has been on a wild ride over the past few years, with its price surging to new highs before crashing back down.\u00a0 Despite this, some experts still believe the asset could record new significant highs in a few years to come. At current market prices, Bitcoin has currently decreased by 60% from its all-time high of $69,000 seen in November 2021. BTC Could Reach $100,000 According to a note from Standard Chartered’s head of digital assets research, Geoff Kendrick, the “crypto winter” may finally be over, and Bitcoin could reach $100,000 by the end of 2024. Kendrick attributes this potential surge in Bitcoin’s price to a number of factors. These include recent turmoil in the banking sector, a stabilization of risk assets as the US Federal Reserve ends its rate-hiking cycle, and the improved profitability of crypto mining.\u00a0 Related Reading: Bitcoin (BTC) To Tap Into $30,000 Region Before A Slow Down, Here\u2019s Why Kendrick said these factors are making the pathway to the $100,000 level “becoming clearer.” But while Kendrick acknowledges that there are still sources of uncertainty surrounding Bitcoin, he believes that the potential for Bitcoin to reach $100,000 is very real.\u00a0 This prediction is particularly noteworthy given that Bitcoin’s price has already surged so far this year. It rose above $30,000 in April for the first time in 10 months. Bitcoin Price Action In The Past 7 Days Bitcoin has experienced a tumultuous journey in the last week, with its price surging to as high as $30,000 on April 18 to crashing back down below $28,000 over the weekend. Over the past 7 days, Bitcoin has been in a downtrend down by nearly 10% in just a week.\u00a0 Related Reading: Bitcoin Traders Count Losses As Total Liquidations Approach $300 Million The asset’s market cap has also lost some value, as it lost over $20 billion from its market capitalization in the last week. Bitcoin currently trades at $27,479 at the time of writing down by 0.6% in the last 24 hours. Several factors contributed to the initial surge in Bitcoin’s price. This includes the fall of United States dollar dominance and the rising US banking crisis, which prompted several traditional bankers to seek another store of value. However, the surge was short-lived, and Bitcoin’s price crashed back down in the past seven days. This sudden drop in Bitcoin’s price was likely caused by a combination of profit-taking from investors who had bought in at lower prices last year, and concerns over increased regulatory scrutiny. Despite this recent volatility, many experts remain bullish on Bitcoin’s long-term prospects. As more and more institutions adopt cryptocurrency and retail investors get involved, it seems that Bitcoin will continue to play a significant role in the financial markets for years to come. Standard Chartered’s prediction of a $100,000 Bitcoin price by the end of 2024 may seem ambitious. But it is not an isolated forecast. According to a survey conducted by London-based crypto hedge fund Nickel Digital Asset Management, the majority of professional investors believe that Bitcoin is becoming more mainstream and that this trend is likely to continue in the coming years. Several other experts including former Coinbase Chief Technology Officer (CTO) Balaji Srinivasan have made similar predictions, suggesting that Bitcoin could go as high as $1 million in the long run. The Coinbase executive went as far as making a bold bet on the future of Bitcoin, claiming that the cryptocurrency will surge to $1 million by June 17th. This optimistic forecast is attributed to the rapid devaluation of the US dollar. However, it’s important to remember that cryptocurrency prices are notoriously volatile and difficult to predict. Though Bitcoin’s price has been on an upward trajectory in recent months, it’s entirely possible that it could experience significant pullbacks or corrections in the future. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":523579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664],"class_list":["post-528347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\nStandard Chartered Predicts Bitcoin Could Reach $100,000 by End of 2024<\/title>\n<meta name=\"description\" content=\"Bitcoin, the world's most well-known cryptocurrency, has been on a wild ride over the past few years, with its price surging to new highs...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024","url":"http:\/\/uniquehot.com\/news\/standard-chartered-predicts-bitcoin-could-reach-100000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/standard-chartered-predicts-bitcoin-could-reach-100000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto"],"dateCreated":"2023-04-24T18:30:48Z","datePublished":"2023-04-24T18:30:48Z","dateModified":"2024-06-11T08:11:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/standard-chartered-predicts-bitcoin-could-reach-100000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/standard-chartered-predicts-bitcoin-could-reach-100000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\"],\"dateCreated\":\"2023-04-24T18:30:48Z\",\"datePublished\":\"2023-04-24T18:30:48Z\",\"dateModified\":\"2024-06-11T08:11:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/528347"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=528347"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/528347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/523579"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=528347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=528347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=528347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}