Reconsidering its prediction earlier this year, Standard Chartered announced that Bitcoin is on track to reach $100,000 by the end of 2024.
According to the bank’s report prepared by Geoff Kendrick and his team, the next thing that will move the Bitcoin price up is “expected to arrive earlier than expected” There will be spot exchange traded funds (ETFs).
In Standard Chartered analysis, “We think that several spot ETFs will be approved for both BTC and ETH in the first quarter of 2024, paving the way for institutional investments.” It was said.
According to the bank team, Bitcoin halving, which is expected to occur in April/May 2024, may also move the price upwards. after halving The amount of Bitcoin in circulation has halved will be.
Standard Chartered predicted in April that the Bitcoin price could reach $100,000 by the end of 2024.
The bank re-evaluated this estimate and “Simply put, everything is progressing as expected.” said.
The report also “Especially if U.S. spot ETFs arrive earlier than expected We expect the price to rise more than our previous expectations before the halving. we are waiting.” It was said and the price, It could rise to $100,000 before the end of 2024 specified.