Crypto winter is over — and bitcoin could hit $100,000 by the end of 2024, Standard Chartered says
Publishing timestamp: 2023-04-24 10:41:32
Summary
Standard Chartered analyst Geoff Kendrick believes that the collapse of mid-tier US lenders has solidified the case for Bitcoin as a decentralised, trustless, and scarce digital asset. He predicts that Bitcoin's value could reach $100,000 by the end of 2024, and that its share of the total digital assets market cap could move into the 50-60% range in the next few months. Kendrick also notes that the woes of Circle's USD Coin and other stablecoins have benefited Bitcoin, and that the pathway to the $100,000 level is becoming clearer due to the stabilisation of risk assets and speculation that the Federal Reserve will ease monetary tightening further.
Sentiment: POSITIVE
Tickers: BTC.CM=,
Keywords: bitcoin, internet, cryptocurrency, business news, fintech, technology, markets, bitcoin/usd coin metrics,