Bitcoin price prediction for 2024: is $100,000 still on the cards?

2023-4-25 23:58

Standard Chartered analyst expects bitcoin to hit $100,000 in 2024. Geoff Kendrick explained his bitcoin price prediction in a research note. Bitcoin is currently down over 10% versus its high earlier this month.

Bitcoin has lost more than 10% in recent days but that, as per a Standard Chartered analyst, may just be an opportunity to buy.

Bitcoin could more than triple from here

Geoff Kendrick remains convinced that the world’s largest cryptocurrency will more than triple to $100,000 in 2024.

His bitcoin price prediction is based primarily on the recent bank failures. In a research note, the analyst said today:

Current stress in traditional banking sector is highly conducive to BTC outperformance – and validates the original premise for Bitcoin as a decentralised, trustless, and scarce digital asset.

The explosive rally in bitcoin following the collapse of Silicon Valley Bank on March 10th does seem to support his thesis. On top of that, the total supply of BTC is scheduled to halve next year that’s traditionally delivered a boost to its price.

Other reasons for his bitcoin price prediction

Kendrick expects bitcoin to significantly outperform also because the U.S. Federal Reserve now seems likely to slam the breaks on lifting rates.

Another positive catalyst he cited are the bitcoin miners. The recent surge in BTC, the analyst noted, has served to improve their profitability thereby making them less likely to sell many coins.

Given these advantages, we think bitcoin’s share of total digital assets market cap could move into the 50% to 60% range in the next few months (from around 45% currently).

His $100,000 bitcoin price prediction is in line with what a Gemini executive also forecast last month.

The post Bitcoin price prediction for 2024: is $100,000 still on the cards? appeared first on CoinJournal.

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Bitcoin (BTC) на Currencies.ru

$ 62497.44 (+1.39%)
Объем 24H $19.223b
Изменеия 24h: 2.64 %, 7d: -3.17 %
Cегодня L: $60793.66 - H: $62525.39
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Цена в час новости $ 27360.76 (128.42%)

bitcoin 100 price prediction 2024 currently down

bitcoin 100 → Результатов: 126


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Мнение: в 2020 году цена bitcoin достигнет уровня $100 тыс.

Bitcoin начал неделю с очередной волны падения. На момент написания новости, криптовалюта торгуется по $7 856, что эквивалентно суточному снижению на 4,21%. Другие активы из топ-10 рейтинга капитализации ресурса CoinMarketCap, за исключением стейблкоина Tether, также демонстрируют негативную динамику.

2019-9-30 08:47