Bitcoin could hit $100,000 by 2024-end, says Standard Chartered

Top cryptocurrency Bitcoin could reach $100,000 by the end of 2024, Standard Chartered said on Monday, saying that the so-called “crypto winter” is over.

Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the US Federal Reserve ends its interest rate-hiking cycle and improved profitability of crypto mining, Standard Chartered’s head of digital assets research Geoff Kendrick said in a note.

“While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer,” Kendrick wrote.