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The British multinational bank Standard Chartered has predicted that Bitcoin will reach a value of $100,000 by the end of 2024. The bank noted that Bitcoin has seen a massive resurgence this year, and the ‘crypto spring’ has already begun.
The prediction is a reiteration of the bank’s forecast in April of this year. The April report noted that the crypto winter is finally over, and several factors that could drive Bicoin’s climb to $100,000 are already at play. One such factor the report highlighted was the turmoil in the banking sector in March this year that helped to “re-establish Bitcoin’s use as a decentralised scarce digital asset.”