Close
What will be the price of Bitcoin in 2024? As Bitcoin (BTC) has seen massive growth this year, Standard Chartered Bank has predicted a price of $100,000 by the end of 2024. In fact, the $820 billion bank shared its prediction while noting that the “crypto spring” has begun. This post from Pooyan Music website is dedicated to Standard Chartered’s prediction of Bitcoin price in 2024.
This prediction is a repetition of the prediction that the bank made in April of this year in an article from Reuters. In this article, they predicted a price of $120,000 for Bitcoin. The bank announced that Bitcoin will reach six figures by the end of next year. Additionally, this forecast is bolstered by a 130% increase in assets so far in 2023.
After a terrible year for digital assets in 2022, this year is seeing a comeback of sorts. In particular, Bitcoin has seen its price increase over the past few months. Given the interest surrounding the first U.S. spot bitcoin ETF, the growing relevance of the industry’s most valuable asset hasn’t wavered.
Now, Bitcoin’s growth may continue. In the meantime, Standard Chartered has predicted the price of Bitcoin in 2024 to be around $100,000. Indeed, the bank shared its own rather optimistic forecast, echoing similar sentiments expressed earlier this year. Overall, the bank has cited its mastery of the crypto space as a key reason for its continued success.
Jeff Kendrick, head of FX Research Bank, wrote: “As such, we expect an increase in the overall value of the digital asset market to be a bigger driver of Bitcoin price growth than an increase in Bitcoin’s continued dominance in the space. In April, Bitcoin’s share of the market value of digital assets reached 50%.
Additionally, sales of mined bitcoins have decreased. In particular, they have dropped to nearly 80% in the fourth quarter, with miners owning more assets. On the other hand, the impending halving of Bitcoin will definitely have a big impact on its price. A recurring event that reduces the number of tokens received in mining, prices should grow exponentially amid a lot of positive sentiment and performance.
