In a remarkable turn of events, Bitcoin, the pioneering cryptocurrency, is poised for a significant surge, with multiple sources, including Standard Chartered, predicting it could reach $100,000 by the end of 2024. Bitcoin’s previous peak was nearly $69,000 in November 2021.
This article delves into the reasons behind this bullish forecast, exploring the insights from various industry experts and financial analysts.
Key Points to look out for in this article:
- Standard Chartered predicts Bitcoin is on track to reach $100,000 by the end of 2024.
- Matrixport, a company specializing in cryptocurrency financial services, published a forecast suggesting that Bitcoin could climb to $63,140 by April 2024 and then soar to $125,000 by the end of the following year.
- Bitcoin’s dominance in the digital asset market has grown, with miners reducing their sales.
- Anticipation of a U.S. Bitcoin ETF approval next year, coupled with the upcoming Bitcoin halving, is driving a surge in the cryptocurrency market.
- Numerous analysts view the settlement of the FTX case and Binance’s agreement with the U.S. Department of Justice as resolving two major issues that had been troubling the market.