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Bitcoin Could Reach $100,000 By End of 2024, According to British Bank

Bitcoin Could Reach $100,000 By End of 2024, According to British Bank

If several months ago cryptocurrencies were one of the strongest topics in tech news, largely due to their rising value and mining, today it’s a topic that has waned in terms of interest. However, there are still those who believe that this bad phase will be reversed, and even the British Standard Chartered Bank says that bitcoins may reach $ 100,000 by the end of 2024.

Bitcoin could reach 100,000 by the end of 2024

According to the information you provided Reuters, the popular cryptocurrency bitcoin could reach $100,000 by the end of 2024. The estimate was released by British bank Standard Chartered on Monday (24). According to the London-based banking institution, the phase of the so-called “cryptocurrency winter” has come to an end, indicating that digital currencies are emerging from the dark phase.

There are a few factors that could contribute to this growth. On the one hand, we have instability and disruption in the traditional banking sector and stability in risky assets as the US Federal Reserve ends its fees and improves profits from cryptocurrency mining,” said Geoff Kendrick, research director for digital assets at Standard Chartered. The CEO adds that:

While sources of uncertainty remain, we believe that the path towards the $100,000 level is becoming clearer.

In November 2021, bitcoins were worth close to $65,000, but cryptocurrency life right now hasn't seen the best of days, with value dropping sharply overall. However, in the first weeks of this month of April, we announced that the value of bitcoin was already above $30,000, an amount not reached since June 2022.

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And in turn at the time I write this article across the platform CoinMarketCap It turns out that the most popular cryptocurrency is currently worth $27,284.74.

It is common to predict the appreciation of this and other digital currencies. And although this market is volatile, there are always some patterns that allow you to estimate how things will play out in the future. Reuters reports that in November 2020, a Citi analyst said bitcoin could reach $318,000 by the end of 2022. But the cryptocurrency closed the year down about 65% at “only” $16,500.