Winter

Bitcoin

Standard

Drive Crypto

Bold

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">The US central bank is close to bringing its aggressive rate-hiking cycle to an end, a move that <a aria-label="could propel Bitcoin to $100,000 (opens in a new tab)" href="https://www.reuters.com/technology/bitcoin-could-hit-100000-by-end-2024-standard-chartered-says-2023-04-24/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">could propel Bitcoin to $100,000</a> by the end of this year, analysts at Standard Chartered wrote in a note on Monday. But such bold predictions should be taken with a grain of salt, given that many weren’t even close to materializing in the past. </p> 
<h3 id="the-end-of-interest-rate-hiking-could-drive-crypto-prices-standard-chartered-says">The End of Interest Rate Hiking Could Drive Crypto Prices, Standard Chartered Says</h3> 
<p>Analysts at Standard Chartered said in a note on Monday that Bitcoin could exceed $100,000 by 2024 as the crypto winter is now over. The analysts wrote that the world’s biggest cryptocurrency could capitalize on several factors, including risks in the banking sector highlighted by the recent turmoil, the end of the Federal Reserve’s tightening cycle, and improved profitability of crypto mining operations.</p> 
<blockquote class="wp-block-quote"> 
 <p>“While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer.” </p> <cite>– said Geoff Kendrick, head of digital assets research at Standard Chartered.</cite>
</blockquote> 
<p>The bank’s predictions come just a few weeks after Bitcoin breached the $30,000 threshold for the first time in June 2022, marking a sharp rebound for the cryptocurrency this year following a catastrophic 2022 that obliterated prices of risk assets. The so-called crypto winter was triggered by several factors, including a <a href="https://tokenist.com/fed-raises-interest-rates-by-75-bps-in-2022s-6th-hike/" rel="dofollow" class="deco-link">series of interest rate hikes</a> by global central banks to rein in <a aria-label="41-year high inflation (opens in a new tab)" href="https://economictimes.indiatimes.com/news/international/us/us-records-41-year-high-inflation-rate-of-8-4-in-march-2022/articleshow/90805181.cms?from=mdr" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">41-year high inflation</a>, numerous collapses in the industry, and geopolitical tensions.</p> 
<p>But now, the Federal Reserve and other central banks are <a aria-label="nearing their peak (opens in a new tab)" href="https://www.bloomberg.com/news/articles/2023-04-09/end-may-be-in-sight-for-global-rate-hike-cycle-as-fed-nears-peak" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">nearing their peak</a> or already done with their rate-hiking cycle, resulting in a much more optimistic outlook for risk assets such as stocks and cryptocurrencies. US central bank officials expect rates to reach 5.1% this year, implying just one more 25 basis-point (bps) hike from the current benchmark target range of 4.75% to 5%.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="another-bold-crypto-price-prediction">Another Bold Crypto Price Prediction</h3> 
<p>However, this is not the first time analysts have made a bold prediction on crypto prices during a rally, and most did not live up to expectations. In 2017, the antivirus software pioneer <a href="https://tokenist.com/these-key-indicators-point-towards-another-bitcoin-bull-run/" rel="dofollow" class="deco-link">John McAfee predicted</a> that Bitcoin would reach $1 million by the end of 2020. The actual price of Bitcoin at the end of 2020 was below $30,000.</p> 
<p>Similarly, analysts at Citi said in November 2020 that Bitcoin could skyrocket to $318,000 by the end of 2022. The cryptocurrency ended the year around the $16,500 mark.</p> 
<p>Earlier this month, crypto research firm K33 Research said <a href="https://tokenist.com/bitcoin-could-be-worth-45000-by-may-k33-research/" rel="dofollow" class="deco-link">Bitcoin could hit $45,000</a> by May, implying that the crypto token will see its price surge more than 65% in the coming days.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Do you think Standard Chartered’s predictions could materialize once the Fed stops hiking rates? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/crypto-winter-is-over-btc-to-hit-100000-by-2024-standard-chartered/">Crypto Winter is Over, BTC to Hit $100,000 by 2024: Standard Chartered</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Crypto Winter is Over, BTC to Hit $100,000 by 2024: Standard Chartered

目次

Tokenist

2023年4月24日公開の他の記事

EU is angry at China over remarks on Ukraine – Details

US To Suffer Devastating Hyperinflation, War, Starvation As BRICS Dumps Dollar: Robert Kiyosaki

KuCoin Twitter Account Briefly Compromised, Attacker Walks Away $22,000 Richer

What is EMG Coin project?

How the ZkSync Ecosystem Ensures Fast, Secure, and Cost-Effective Ethereum Transactions

Top crypto tweets of the day – April 24th

ニュースレターを購読して暗号資産の最新情報を毎日入手！