Bitcoin could go as high as $100,000 by the end of 2024, according to British bank Standard Chartered. BTC has been rallying so far this year, topping 30,000 in April for the first time in ten months.
What is known as “the harsh winter of BTC” could have come to an end. According to the estimates of the British bank Standard Chartered, BTC could reach the psychological frontier of $100,000 by the end of 2024.
April has been the month in which a price recovery has been consolidated after the fall to $16,000 last November. The current $27,000 is far from the All-time high of $64,000 touched in November 2021. Many have been the problems that cryptocurrencies have faced in recent years.
The current price rise is also the result of a partial recovery in the cryptocurrency sector, after the million dollar losses in 2022caused in part by the increase in central bank interest rates and the collapse of several cryptocurrency companies.
Standard Chartered PLC’s upbeat analysis comes at a time of uncertainty, perhaps a change of trend for the crypto markethighly questioned in the United States, and with rumors of a possible sale of parts of the assets treasured by the country itself throughout this year added to the departure of BTC miners.
On the other hand, this has also been the month in which Europe has approved the MiCA: the first major regulation of cryptocurrencieswhich seeks to contribute security and transparency to the crypto market and places Europe as a reference in this sector.
More predictions establish the arrival of 100,000 dollars of BTC
The Exorbitant valuation predictions have been common during past Bitcoin rallies. A Citi analyst said in November 2020 that bitcoin could hit $318,000 by the end of 2022.
However, the bearish market seems to be at a turning point. The predictions of Standard Chartered PLC are joined by figures such as Robert Kiyosaki, the bestselling author of “Rich father poor father” which again estimates that the $100,000 for Bitcoin is within its expectation, mainly due to its independence from financial institutions and governments.
Plan B, creator of the Stock To Flow price prediction model, however, later places the arrival at this all-time high of $100,000. According to his analysis, it will happen in 2025 after the halving periodthat is, the predicted moment in BTC in the Bitcoin protocol that halves the number of new bitcoins that mining receives for mining new blocks.
