Bitcoin, which fell to $ 16,000 after the collapse of the once-largest cryptocurrency exchange FTX, made a good start to 2023.
Although BTC has been down this week, it has gained almost 100% since the beginning of 2023.
This performance of BTC in 2023 has increased the expectations of some analysts about BTC.
One of these was the British banking giant Standard Chartered.
According to Reuters, Standard Chartered said in a note to clients that the so-called crypto winter is over and Bitcoin could reach $100,000 by the end of 2024.
Geoff Kendrick, head of digital asset research at Standard Charterd, said in a note that Bitcoin could profit from factors such as the recent crisis in the banking industry, the stabilization of risk assets as the Fed ends the cycle of rate hikes, and the increased profitability of crypto mining.
“Although the uncertainty in the markets remains, we think the path to $100,000 in Bitcoin is becoming clearer.”
During past rallies regarding the Bitcoin price, very high valuation estimates were made.
As an example, in November 2020, a Citi analyst said that BTC could hit $318,000 by the end of 2022. However, this prediction did not hold. BTC closed the year 2022 with a decrease of about 65% at $ 16,500.
*Not investment advice.
