Standard Chartered initially made its $100,000 prediction in April, arguing then that the cryptocurrency had benefited from its status as a branded safe haven.
“Put simply, everything is working as expected,” said the bank in its reiteration today. “BTC’s dominance remains intact – its share of overall digital assets market cap has increased to 50% from 45% in April.”
There is also a chance that the cryptocurrency will climb to the $100,000 mark before the end of the year, the bank said. “We now expect more price upside to materialize before the halving than we previously did, specifically via the earlier-than-expected introduction of U.S. spot ETFs. This suggests a risk that the USD 100,000 level could be reached before end-2024.”
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- Source: https://www.fintechnews.org/bitcoin-remains-on-track-for-100k-by-year-end-2024/
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