Crypto Winter Is Over Bitcoin Could Hit $100,000 Next Year – Bitcoin Markets & Prices News

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Standard Chartered says the crypto winter is over and the price of bitcoin could reach $100,000 per coin by the end of next year. The World Bank analyst identified several factors contributing to the cryptocurrency price surge, including the recent turmoil in the banking sector.

Standard Chartered Bank on Bitcoin reaches $100,000

World bank Standard Chartered said on Monday that the “crypto winter” is over and the price of bitcoin could hit $100,000 by the end of 2024.

Standard Chartered’s head of digital asset research, Geoff Kendrick, explained in a note that bitcoin stands to benefit from a variety of factors. They include recent turmoil in the banking sector, a stabilization in risky assets as the US Federal Reserve ends its interest rate hike cycle, and improved profitability in cryptocurrency mining. The analyst wrote:

Although sources of uncertainty remain, we believe the path towards the USD 100,000 level is becoming clearer.

A growing number of individuals and analysts have recently expressed optimism about the prospects for bitcoin and the overall cryptocurrency market. As of this writing, BTC is trading at $27,464, down from over $30,000 the previous week. However, the cryptocurrency is up 65% year-to-date.

In March, the CEO of investment management firm Vaneck said that “we are at the very beginning of what could be a multi-year cycle” in gold and bitcoin, while the commodities strategist of Bloomberg Intelligence said a supercycle could occur in BTC. In February, Pantera Capital said we were already in the next bull market cycle for bitcoin. Rich Dad Poor Dad author Robert Kiyosaki expects BTC to continue rising, predicting that the price of the biggest crypto will reach $500,000 by 2025.

What do you think of Standard Chartered’s Bitcoin prediction? Do you think the bitcoin price will hit $100,000 by the end of next year? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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