Standard Chartered: Bitcoin could reach $50,000 this year

Standard Chartered: Bitcoin could reach $50,000 this year
фото показано с : invezz.com

2023-7-11 15:30

Standard Chartered, a global financial giant, says Bitcoin (BTC) price could rise to $50,000 this year. More than that, analysts at the bank suggest the benchmark cryptocurrency’s value could soar to $120,000 in 2024.

A note the bank published on Monday, as reported by Reuters, also notes that the potential blockbuster gains could see miners hoard huge amounts of the coin.

Standard Chartered released a BTC price prediction note in April in which its analysts charted a possible upside to $100,000 by the end of 2024. Among the key bases for that forecast was that the market was seeing an end to the crypto winter.

Geoff Kendrick, a top FX analyst at the bank, says that prediction now has a potential 20% upside to it. The analyst notes that increasing profitability means reduced selling as miners maintain cash inflows. Reduced net supply could catalyse further breakout action as more people buy Bitcoin.

Bitcoin price amid global adoption

The bank’s bitcoin price prediction comes as the leading cryptocurrency continued to hover around $30k. The outlook over the past few weeks has been positive for BTC, particularly with the bullish flip in market sentiment following asset management titan BlackRock’s filing for a spot Bitcoin ETF.

The firm’s CEO Larry Fink’s comments that the cryptocurrency was now an international asset and digital gold also helped fire bulls. Amid this is the growing adoption of BTC among institutional investors. While MicroStrategy’s holdings are the largest by a publicly-traded company at 150,000 BTC, data shows more and more institutions are buying the cryptocurrency.

Indeed, Invezz recently highlighted the fact that as institutional investors buy, the supply on exchanges has been falling.

The post Standard Chartered: Bitcoin could reach $50,000 this year appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66889.92 (-0.14%)
Объем 24H $28.132b
Изменеия 24h: 2.46 %, 7d: 9.89 %
Cегодня L: $66739 - H: $67036.39
Капитализация $1317.719b Rank 1
Цена в час новости $ 30526.41 (119.12%)

could year standard chartered bitcoin benchmark bank

Источник: invezz.com

could year → Результатов: 126


Biden administration official hints at stablecoin legislation that could come into force this year

Coindesk reported that an official of the U.S federal government hinted that the government is working with Congress on a stablecoin legislation that could become law by the end of the year. The post Biden administration official hints at stablecoin legislation that could come into force this year appeared first on CryptoSlate.

2022-7-1 08:40


Фото:

On-Chain Analyst Expects Next Bitcoin Bull Cycle To Be More Aggressive – Here’s Why

On-Chain crypto analyst Willy Woo predicts incoming volatility that could thrust Bitcoin’s price higher, taking out this year’s all-time high. According to the seasoned analyst, most of whose predictions have come to fruition noted that BTC’s dormancy had bottomed and expects the next bull cycle to be more aggressive. No Bear Market in Sight On […]

2021-8-6 15:08


Фото:

As Grayscale’s Big BTC Unlock Nears, JPMorgan Puzzles Over $23,000 Bitcoin Price ‘Fair Value’

Bitcoin has continued to play out in tight range since it found ground in the $29,000 area, a support area that was last established on diverse dates in January this year. Whereas most observers seem to only harbor a bullish bias, JPMorgan has constantly held that that Bitcoin could further drop to $23,000 before gathering […]

2021-7-14 22:12


Фото:

Bitcoin Could ‘Very Well’ Surge Past $90,000 This Year, Crypto Investor Forecasts

Bitcoin, the world’s largest and most valuable cryptocurrency, could breach $90,000 over the coming months, American crypto pioneer Nick Spanos has said. On Thursday, Spanos, best known for founding Zap Protocol and the Bitcoin Center NYC (the world’s first physical Bitcoin exchange), said that he expects so-called crypto winters to pass by much more quickly […]

2021-6-19 23:05


Фото:

Bitcoin Is Gearing Up To Pull A “2013 Style” Rally On The Market According To New S2F Data

Plan B, the pseudonymous creator of the Bitcoin stock-to-flow model, has taken to Twitter to present what could be one of the most bullish data to the Bitcoin community. Bitcoin could surge past $200k this year The stock-to-flow model, with which the creator and other Bitcoin proponents have relied on to predict the price of […]

2021-6-17 21:52


African Crypto Exchange Quidax Raises Over $3 Million

LAGOS, Nigeria – On what could be tagged as the worst day of crypto this year, the African-founded exchange, Quidax, raised over 7,772 BNB from the public sale of its token, QDX. The crypto market suffered its first major dip in 2021 on Thursday, May 19 with Bitcoin dropping as low as $30,000 from highs … Continued The post African Crypto Exchange Quidax Raises Over $3 Million appeared first on BeInCrypto.

2021-5-25 12:57


How Bitcoin And NFTs Could Be Integrated To e-Bay’s Platform

In an interview for CNBC’s Squawk Box, eBay’s CEO Jamie Iannone talked about the possibility of integrating Bitcoin and crypto payments into their platform. BTC and other digital assets have seen an unprecedented wave of adoption from institutions, companies, and payment platforms during the last year and the popular e-commerce website seems to want in […]

2021-5-4 22:19


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru