Cryptocurrencies: Bitcoin Could Reach $100,000 in 2024, According to a British Bank

Bitcoin is forecast to go to $100,000 by British Bank

FORECASTS: Last December, this same bank predicted that Bitcoin would fall to $5,000 in the year 2023.

In a note released on Monday, British bank Standard Chartered estimated that Bitcoin could be valued at $100,000 by the end of 2024,  Reuters reports. On Wednesday, the famous cryptocurrency was valued at $28,000.

In mid-April, the value of bitcoin had exceeded $ 30,000, which corresponds to an increase of 33% compared to the beginning of January: a first for ten months. “While sources of uncertainty remain, we believe the path to the $100,000 level is becoming clearer,” Geoff Kendrick, head of digital asset research at Standard Chartered, told the UK news agency.

Ambitious predictions

Since mid-March, this significant increase has accelerated further thanks to the new measures taken by the American Central Bank (Fed) to support banking establishments in difficulty across the Atlantic. In one week, the Fed has thus invested 164.8 billion dollars in this aid, a record amount since the economic crisis of 2008.

Last December, Standard Chartered Bank published another note in which it estimated that the value of Bitcoin could fall to $5,000 in 2023. This new prediction should therefore be taken with a grain of salt. In 2020, an analyst from the financial company Citi even estimated that the cryptocurrency could soar to $318,000 by the end of 2022. Bitcoin finally closed at $16,500.

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