After the Spot Bitcoin ETF applications, Bitcoin, which had a rally that went up to above $ 31,000, is currently continuing its sideways movements above $ 30,000.
While investors are waiting for a movement from BTC for the new rally, the famous bank Standard Chartered analysts announced their new Bitcoin forecast.
According to Reuters' report, Standard Chartered, which predicted “$100,000 in Bitcoin for the end of 2024” by stating that the crypto winter was over last April, raised its price expectation for BTC.
Accordingly, bank analysts think that Bitcoin could reach $50,000 in 2023 and $120,000 by the end of 2024.
Bank analysts led by Geoff Kendrick wrote in their report:
“We have raised our forecast for Bitcoin and we think Bitcoin could reach $50,000 in 2023 and $120,000 by the end of 2024.
Increased miner profitability per Bitcoin mining means they can sell less, reduce the net supply of BTC, and raise BTC prices while maintaining their cash inflows.
We believe that a potential increase in the BTC price may also push Bitcoin miners to stockpile more of the coins they mint.”
*Not investment advice.
