Even though Bitcoin (BTC) has doubled its value since the beginning of this year, Standard Chartered believes that the flagship cryptocurrency is on its way to reaching $100,000 by the end of 2024.
Bitcoin Poised for 160% Resurgence
The bank’s research note declared that the “Crypto spring has sprung” and reiterated its initial forecast made in April. In this previous forecast, the bank equally predicted that BTC could hit the six-figure level by the end of next year. So far, Bitcoin has recorded up to 130% surge in the Year-to-Date (YTD) period. At the time of this writing, the number one digital currency has regained the $38K price level, soaring to $38,092.48 amid a 2.80% surge in the past 24 hours.
Having the coin reach the predicted level would demand an additional increase of more than 160%. Standard Chartered Head of FX Research Geoff Kendrick believes that some of the key drivers of Bitcoin’s surge are its consistent dominance in the crypto market as well as increas
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