Standard Chartered Bank reaffirms Bitcoin to reach 100000 by the end of 2024 prediction

According to a report from CoinDesk, Standard Chartered Bank reiterated its prediction made in April this year that Bitcoin (BTC) will reach $100,000 by the end of 2024. Geoff Kendrick, the head of forex research at Standard Chartered Bank, and his team wrote that the next catalyst will be the approval of multiple U.S. Bitcoin spot ETFs, which they expect to happen “likely sooner than expected.” The team at Standard Chartered Bank also pointed out that the next Bitcoin “halving” – a mechanism that limits supply and is currently expected to occur at the end of April 2024 – will be another source of price increase. Additionally, Standard Chartered Bank stated in this reiteration that, according to a previous report by Zombit, the bank had predicted in July this year that Bitcoin could reach $50,000 by the end of the year. With the current trading price of Bitcoin at around $37,900 and only about a month left until the end of the year, achieving their prediction seems quite challenging.