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Standard Chartered Says Bitcoin To Reach $100K By End Of 2024

Yolowire - Wed Nov 29, 2023

Analysts at %StandardChartered say %Bitcoin ($BTC) is on track to reach $100,000 U.S. by the end of 2024.

In a note to clients, the analysts say they anticipate the next catalyst to send Bitcoin’s price even higher will be the approval of %Cryptocurrency exchange-traded funds (ETFs), which they expect to happen soon.

Standard Chartered also noted the next Bitcoin “halving” even that is coming up in April 2024, which is a mechanism to limit the supply of Bitcoin.

Standard Chartered initially made its $100,000 U.S. price prediction for Bitcoin in April of this year, saying that the largest crypto had benefited from its status as a safe haven asset in times of turmoil.

Now, the bank says there is a chance that the price of Bitcoin will reach the $100,000 U.S. mark before the end of next year.

Bitcoin’s price has risen 130% this year to $38,250 U.S. The cryptocurrency’s all-time high was $68,000 U.S. reached in November 2021 when the market last peaked.

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