Epic StanChart BTC price prediction means well for LTC, XRP, ETH, ADA

Epic StanChart BTC price prediction means well for LTC, XRP, ETH, ADA
фото показано с : invezz.com

2023-4-26 08:13

Bitcoin (BTC/USD) price has moved into a correction phase in the past few days after falling by over 12% from the highest level this month. This decline has also led to a major breakdown in other altcoins like Ethereum, Cardano, Litecoin, Polkadot, XRP, and Chainlink. The total market cap of all cryptocurrencies has dropped from over $1.3 trillion to about $1.1 trillion.

Standard Chartered Bitcoin price prediction

Despite the recent sell-off, some analysts are extremely bullish on Bitcoin prices. In a note, analysts at Standard Chartered wrote that the coin could jump by more than 260% by 2024 and hit the key resistance point at $100,000. 

They cited the fact that Bitcoin is now seen as a safe-haven asset after the collapse of several banks like Silicon Valley Bank and Signature. Bitcoin surged during their crash as it became a good alternative to stocks.

The analyst also cited the overall improving macroeconomic backdrop for risky assets as the Fed nears its tightening phase. The Federal Reserve has hiked interest rates from zero in 2022 to between 4.75% and 5% this year. Analysts believe that the bank is nearing the end of its hiking cycle. 

Further, as I wrote in this article, the other big catalyst for Bitcoin is halving, which will reduce the rewards paid to miners. Most analysts believe that Bitcoin will do well before that halving as it has done in the past three halvings. The Standard Chartered analyst wrote:

“While BTC can trade well when risky assets suffer, correlations to the Nasdaq suggest that it should trade better if risky assets improve broadly. Given these advantages, we think BTC’s share of the total digital assets market cap could move into the 50-60% range in the next few months.”

He believes that Bitcoin could surge to $100k by 2024. If this happens, it means that Bitcoin will need to rise by about 260% from the current level.

Impact on altcoins

The StanChart analyst is not the only one who is bullish on Bitcoin. On Monday, I wrote that Bloomberg Intelligence believes that BTC could jump to $50,000. Mike Novogratz of Galaxy Digital recently predicted that Bitcoin could retest its all-time high at $67,000.

Watch here: https://www.youtube.com/embed/Kd1b8BaJLPs?start=1&feature=oembed

Therefore, if these predictions are accurate, other altcoins will also do well because of the close correlation that exists. Historically, cryptocurrencies like Ethereum, Ripple, Litecoin, Polkadot, and Binance USD tend to do well when Bitcoin is rising.

We can see this correlation right now since most altcoins have pulled back because of the overall decline in Bitcoin prices.

The post Epic StanChart BTC price prediction means well for LTC, XRP, ETH, ADA appeared first on Invezz.

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Ripple (XRP) на Currencies.ru

$ 0.5136 (+0.02%)
Объем 24H $1.092b
Изменеия 24h: 0.70 %, 7d: -2.76 %
Cегодня L: $0.4973 - H: $0.5173
Капитализация $29.207b Rank 7
Цена в час новости $ 0.4737 (8.42%)

xrp price btc led month highest level

Источник: invezz.com

xrp price → Результатов: 126


Seasoned Trader Eyes $35 For XRP, Says It’s Not As Crazy As It Sounds

A well-experienced trader recently got significant attention after making a bold statement that an XRP price hike could be somewhere between $30 to $35 based on his assumptions of the market. Related Reading: Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details Critics slammed his forecast, but Ralston Maximus, a seasoned investor, defended that the predicted price of XRP climbing to $35 is reasonable.

2024-10-29 18:00


XRP Price Growth: Analyst Breaks Down The Movements And Why It’s So

The reason behind the stagnant XRP price growth has remained a mystery, with many crypto analysts pointing to legal disputes and market volatility as key factors holding back its momentum. However, even during favorable market conditions and after gaining legal clarity following multiple Ripple Court wins against the United States Securities and Exchange Commission (SEC), XRP has still failed to experience a notable upward surge.

2024-10-16 23:00


XRP Price Set for Explosive Rally, Analyst Shares Timeline

XRP is getting close to a crucial level, and experts expect an upcoming breakout. Analyst EGRAG CRYPTO tweeted that XRP is likely to swing s in price during the next 15 to 30 days.  Complementing a thorough chart, the tweet highlighted important levels of support and resistance, therefore suggesting possible price targets for the short […] The post XRP Price Set for Explosive Rally, Analyst Shares Timeline appeared first on CaptainAltcoin.

2024-10-16 22:30


XRP Price Set To Reach $40 As Dogecoin’s Price Readies To Move 10,000% To $10

A recent analysis by a crypto analyst identified as ’Steph The Crypto’ is riling up the Ripple (XRP) community, as the analyst predicts a rapid surge in XRP’s price to $40. This pump could potentially place Ripple (XRP) in competition with top cryptocurrencies like Dogecoin, and ETFSwap (ETFS), both expected to experience explosive gains— Dogecoin […] The post XRP Price Set To Reach $40 As Dogecoin’s Price Readies To Move 10,000% To $10 appeared first on CaptainAltcoin.

2024-9-18 16:00


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