Standard Chartered made a bold Bitcoin price prediction for the next bull cycle amid an unfolding banking crisis in the United States.
In a note published on April 24, Standard Chartered analysts predicted that Bitcoin prices will climb to $100,000 by the end of 2024., Silvergate, and Signature, has solidified the case for Bitcoin as a “decentralized, trustless, and scarce digital asset.”
“We see potential for Bitcoin to reach the USD 100,000 level by end-2024, as we believe the much-touted ‘crypto winter’ is finally over,”The current stress in the traditional banking sector is highly conducive to BTC’s outperformance, he said,Kendrick predicted that Bitcoin market dominance would also return to the 50-60% level. It is currently 47.37%, according to Tradingview, having fallen back 3% over the past couple of weeks.
In his report, the analyst also noted a benefit to Bitcoin mining firms which have seen stock prices surge in 2023.
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