Bitcoin to Surge to $100k by 2024 – According to the most recent analysis by British multinational bank Standard Chartered, the most popular cryptocurrency in the world, Bitcoin (BTC), is expected to surge and may even reach $100,000 by the end of 2024.
In fact, the financial behemoth asserts that the “crypto winter,” which started in 2022, is now ended, according to a Reuters report dated April 24.
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Geoff Kendrick, head of digital assets research at Standard Chartered, identified numerous reasons in his analysis that could possibly increase Bitcoin’s value in the near future. These include the current financial upheaval, the stabilizing of risk assets following the Fed’s (U.S.) conclusion to its rate-hiking cycle, and an increase in the profitability of cryptocurrency mining.
“While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer,” Kendrick stated.
Bitcoin to Reach $100k
Since the start of the year, Bitcoin has had a significant uptrend from $16,500 to over $30,000, crossing this last threshold for the first time in ten months. Especially after a challenging 2022 that brought many crypto enterprises to their knees, like FTX, Terraform Labs, Celsius, 3AC, and others, Bitcoin’s ascent also demonstrates a partial revival of the market.
It was typical to hear upbeat predictions of skyrocketing valuations during prior Bitcoin rallies. As an illustration, in November 2020 a Citibank analyst predicted that Bitcoin might reach a stunning $318,000 by the end of 2022. Despite these high hopes, the price of the coin fell 65% and ended the year at $16,500.
Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad Poor Dad,” has reiterated his support for Bitcoin in public. On April 21, Kiyosaki tweeted that he believes Bitcoin will reach a price of $100,000 and that people, not the Fed or the government, support it.
View Tweet Below:
WHY I ❤️BITCOIN: Years ago I watched BC climb to $20k then drop to 0. I thought BC finished. Slowly watched BC climb to $6 k & I bought lots. WHY? Because people support BC not FED or Gov. BC did not need FED or Gov bailout because BC people’s money. BC to $100k. Long live BC.
— Robert Kiyosaki (@theRealKiyosaki) April 21, 2023