{"id":563121,"date":"2023-11-30T07:00:08","date_gmt":"2023-11-30T07:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=563121"},"modified":"2023-11-30T07:00:08","modified_gmt":"2023-11-30T07:00:08","slug":"mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says\/","title":{"rendered":"Mark Your Calendars: Bitcoin To Hit $100,000 By End Of 2024, Standard Chartered Says"},"content":{"rendered":"

In a bold projection, Standard Chartered, the British multinational bank, envisions a substantial surge in the value of Bitcoin, anticipating it to reach $100,000 by the conclusion of 2024.<\/a><\/p>\n

Observing Bitcoin’s impressive resurgence throughout the current year, the bank identifies the onset of what they refer to as the ‘crypto spring.’<\/p>\n

This period of renewed vitality in the cryptocurrency market has sparked optimism, leading Standard Chartered to set an ambitious target for Bitcoin’s future valuation.<\/p>\n

Related Reading: Is $20 On The Cards? LINK Price Rides High With Chainlink Staking v0.2 Rollout<\/a><\/div>\n

Bitcoin Surpasses $38,200, StanChart Predicts $100K By 2024<\/strong><\/h2>\n

The world’s largest cryptocurrency, Bitcoin, attracted interest from institutional investors once again this week, as its price surpassed $38,200 on November 29.<\/p>\n

Geoff Kendrick, Head of Crypto Research at Standard Chartered Bank<\/a>, reiterated the company’s bullish forecast that the price of Bitcoin may reach $100,000 in 2024.<\/p>\n

The projection is a continuation of the bank’s April outlook for this year. The April research stated that a number of reasons that might propel Bicoin’s ascent over $100,000 are already in action, and that the crypto winter has now come to an end.<\/p>\n

The report emphasized that in March of this year, there was disruption in the financial system, which contributed to the “re-establishment” of Bitcoin’s use as a decentralized scarce digital currency.<\/p>\n

Bitcoin market cap currently at $740 billion on the daily chart: TradingView.com<\/a><\/pre>\n
Kendrick and the Standard team expressed their optimism that the US government’s approval of multiple spot Bitcoin ETFs will be the next catalyst for the growth of cryptocurrencies, and that these developments will occur sooner than originally anticipated.<\/p>\n
\n
\u201cWe think that a number of spot ETFs will now be approved in the first quarter of 2024 for both Bitcoin and Ethereum, setting the stage for institutional investment,\u201d they said.<\/h4>\n<\/blockquote>\n
Additionally, Standard Chartered highlighted another cause that can lead to future price increases: the upcoming Bitcoin “halving,” which would limit the currency’s supply and is expected to happen in late April 2024.<\/p>\n
\"\"<\/p>\n
BTC seven-day price action. Source: CoinMarketCap<\/pre>\n
With its headquarters located in London, Standard Chartered caters to a global clientele of both individual and corporate customers. While it does not offer retail banking services in the United Kingdom, its multibillion-dollar operations across Asia, Africa, and the Middle East position it as one of the world’s most significant financial enterprises.<\/p>\n
And it’s because of this significant role in the global financial system that Standard Chartered’s positive prediction for bitcoin earlier this month is all the more intriguing.<\/p>\n
Record Hash Rate And Market Maturity Validate Standard’s Bullish Prediction<\/strong><\/h2>\n
Bitcoin’s hash rate, the amount of processing power miners are using to secure the network, and a measure of the network’s strength\u2014which recently reached an all-time high\u2014all support Standard Chartered’s bullish stance.<\/p>\n
\"\"<\/p>\n
BTC Price Volatility Trends compared to Mega Cap Stocks (data as of Nov. 2023). Source: IntoTheBlock<\/a><\/pre>\n
Meanwhile, recent on-chain data from IntoTheBlock indicates that the Bitcoin market has displayed indications of increasing maturity and stability<\/a> in comparison to large-cap stocks and index funds.<\/p>\n
Related Reading: LUNC Soars Over 70% \u2013 Temporary Spike Or Sustainable Climb Ahead?<\/a><\/div>\n
Standard Chartered’s forecast of a Bitcoin price surge has gained validation as Bitcoin has witnessed a remarkable 130 percent surge in 2023. According to the bank, everything is unfolding as anticipated.<\/p>\n
BTC’s dominance in the digital assets market remains robust, having increased from 45 percent in April to a current 50 percent share of the overall market cap.<\/p>\n
Bernstein analysts echoed Standard Chartered’s optimism, predicting that Bitcoin might reach $150,000 by mid-2025 for the same supply-related reasons.<\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
In a bold projection, Standard Chartered, the British multinational bank, envisions a substantial surge in the value of Bitcoin, anticipating it to reach $100,000 by the conclusion of 2024. Observing Bitcoin’s impressive resurgence throughout the current year, the bank identifies the onset of what they refer to as the ‘crypto spring.’ This period of renewed vitality in the cryptocurrency market has sparked optimism, leading Standard Chartered to set an ambitious target for Bitcoin’s future valuation. Related Reading: Is $20 On The Cards? LINK Price Rides High With Chainlink Staking v0.2 Rollout Bitcoin Surpasses $38,200, StanChart Predicts $100K By 2024 The world’s largest cryptocurrency, Bitcoin, attracted interest from institutional investors once again this week, as its price surpassed $38,200 on November 29. Geoff Kendrick, Head of Crypto Research at Standard Chartered Bank, reiterated the company’s bullish forecast that the price of Bitcoin may reach $100,000 in 2024. The projection is a continuation of the bank’s April outlook for this year. The April research stated that a number of reasons that might propel Bicoin’s ascent over $100,000 are already in action, and that the crypto winter has now come to an end. The report emphasized that in March of this year, there was disruption in the financial system, which contributed to the “re-establishment” of Bitcoin’s use as a decentralized scarce digital currency. Bitcoin market cap currently at $740 billion on the daily chart: TradingView.com Kendrick and the Standard team expressed their optimism that the US government’s approval of multiple spot Bitcoin ETFs will be the next catalyst for the growth of cryptocurrencies, and that these developments will occur sooner than originally anticipated. \u201cWe think that a number of spot ETFs will now be approved in the first quarter of 2024 for both Bitcoin and Ethereum, setting the stage for institutional investment,\u201d they said. Additionally, Standard Chartered highlighted another cause that can lead to future price increases: the upcoming Bitcoin “halving,” which would limit the currency’s supply and is expected to happen in late April 2024. BTC seven-day price action. Source: CoinMarketCap With its headquarters located in London, Standard Chartered caters to a global clientele of both individual and corporate customers. While it does not offer retail banking services in the United Kingdom, its multibillion-dollar operations across Asia, Africa, and the Middle East position it as one of the world’s most significant financial enterprises. And it’s because of this significant role in the global financial system that Standard Chartered’s positive prediction for bitcoin earlier this month is all the more intriguing. Record Hash Rate And Market Maturity Validate Standard’s Bullish Prediction Bitcoin’s hash rate, the amount of processing power miners are using to secure the network, and a measure of the network’s strength\u2014which recently reached an all-time high\u2014all support Standard Chartered’s bullish stance. BTC Price Volatility Trends compared to Mega Cap Stocks (data as of Nov. 2023). Source: IntoTheBlock Meanwhile, recent on-chain data from IntoTheBlock indicates that the Bitcoin market has displayed indications of increasing maturity and stability in comparison to large-cap stocks and index funds. Related Reading: LUNC Soars Over 70% \u2013 Temporary Spike Or Sustainable Climb Ahead? Standard Chartered’s forecast of a Bitcoin price surge has gained validation as Bitcoin has witnessed a remarkable 130 percent surge in 2023. According to the bank, everything is unfolding as anticipated. BTC’s dominance in the digital assets market remains robust, having increased from 45 percent in April to a current 50 percent share of the overall market cap. Bernstein analysts echoed Standard Chartered’s optimism, predicting that Bitcoin might reach $150,000 by mid-2025 for the same supply-related reasons. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":563133,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[679,1119,1144,6664,8780],"class_list":["post-563121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto","tag-standard-chartered"],"acf":[],"yoast_head":"\nBitcoin To Hit $100,000 By End Of 2024, Standard Chartered Says<\/title>\n<meta name=\"description\" content=\"In a bold projection, Standard Chartered, the British multinational bank, envisions a substantial surge in the value of Bitcoin, anticipating it to reach\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Mark Your Calendars: Bitcoin To Hit $100,000 By End Of 2024, Standard Chartered Says","url":"http:\/\/uniquehot.com\/news\/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/a-165.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/a-165.png?fit=343%2C225"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin price","btc","btcusd","crypto","standard chartered"],"dateCreated":"2023-11-30T07:00:08Z","datePublished":"2023-11-30T07:00:08Z","dateModified":"2023-11-30T07:00:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Mark Your Calendars: Bitcoin To Hit $100,000 By End Of 2024, Standard Chartered Says\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-165.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-165.png?fit=343%2C225\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin price\",\"btc\",\"btcusd\",\"crypto\",\"standard chartered\"],\"dateCreated\":\"2023-11-30T07:00:08Z\",\"datePublished\":\"2023-11-30T07:00:08Z\",\"dateModified\":\"2023-11-30T07:00:08Z\"}<\/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\/11\/a-165.png?fit=343%2C225","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/563121"}],"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\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=563121"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/563121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/563133"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=563121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=563121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=563121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}