Bitcoin price will hit $120,000 in 2024, Standard Chartered believes
Standard Chartered Bank has revised its bitcoin price prediction, forecasting a rise to $120,000 by the end of 2024. The renewed push for a bitcoin exchange-traded fund (ETF) by BlackRock and other institutions could potentially propel the cryptocurrency even higher. BTC to the moon? Standard Chartered Bank has increased its bitcoin (BTC) price prediction, forecasting that the digital asset could reach $120,000 by the end of 2024. This updated forecast comes after the bank initially projected a price target of $100,000 in April 2023. Geoff Kendrick, the bank’s top foreign exchange analyst, highlighted that the recent rise in miner profitability would reduce bitcoin supply, contributing to higher price s, Reuters reports. The forecast comes amidst the market’s significant downturn that started last year, coupled with several high-profile bankruptcies and scandals, including the disgraced Sam Bankman-Fried’s FTX saga. You might also like: Hong Kong pushes HSBC ...