18. July 2024

Crypto Winter Ending: Bitcoin Could Reach $100,000 in 2024

  • Standard Chartered believes the “crypto winter” has come to an end and the value of Bitcoin could reach $100,000 by the end of 2024.
  • The failure of Silicon Valley Bank and other mid-tier US institutions is seen as favorable for BTC outperformance.
  • Bitcoin’s market share is expected to rise to 50-60%, making it a more attractive asset for investors.

Standard Chartered’s Optimistic Outlook For Bitcoin

Standard Chartered recently released a paper titled “Bitcoin – Pathway to the $100,000 Level” which suggests that the “crypto winter” has officially ended and that Bitcoin could reach $100,000 by late 2024. The bank believes that due to the ongoing turmoil in traditional banking, BTC’s share of the total digital assets market cap could rise to 50-60% over the coming months. This would make Bitcoin a more attractive investment option during times of economic uncertainty.

Impact On Bitcoin’s Value

As one of the leading cryptocurrencies, Bitcoin stands to benefit from these events which are likely to increase interest, investment and adoption into this decentralized, trustless, and scarce digital asset. If its market share rises as expected then its value should also appreciate, further solidifying its position amongst investors.

Time To Buy?

With such a bullish forecast from Standard Chartered many potential investors are now asking if it is time now to buy bitcoin and capitalize on its anticipated growth. While there is no definitive answer to this question as it depends upon individual financial circumstances and risk appetite there certainly appears to be some upside potential for those who decide now may be a good time take advantage of this opportunity.

Conclusion

Since crypto winter has ended according Standard Chartered’s analysis suggests that now might be a good time for potential investors to capitalize on bitcoin’s predicted growth. However any final decision should be taken after careful consideration of individual circumstances with regards to risk appetite and personal finances.