Bitcoin (BTC) Will Reach $100,000 Next Year: This Banking Giant Chips Inc
TL; DR
Standard Chartered's Jeff Kendrick highlights three reasons for Bitcoin's potential growth to $100,000: the overall increase in the market value of digital assets, the April 2024 Bitcoin halving and the anticipated US debut of the BTC ETF. Kendrick predicts that Bitcoin's peak will occur 12-18 months post-halving, with the early introduction of US spot ETFs possibly pushing BTC to $100,000 before the end of 2024. Prominent figures such as investor Robert Kiyosaki and Blockstream CEO Adam Temeles have predicted that Bitcoin will reach $100,000, citing the weakening of the US dollar and significant bearish trends.
What could cause BTC's possible rise?
In the year Bitcoin's dramatic price increase in 2023 has given many analysts the opportunity to predict that the growth will continue in the near future. One person who shares that thesis is Jeff Kendrick, head of FX research at Standard Chartered.
According to him, there are three critical factors that could lead to the desired $100,000 price explosion next year. The first is Bitcoin's potential dominance over altcoins.
“Going forward, we expect an increase in the overall market value of digital assets to be a major driver of BTC price increases.
Another factor that will play a role is the Bitcoin halving (scheduled for April 2024). Kendrick It is estimated. 12-18 months after the event, the value of the property is likely to be high.
Last but not least, he believes the launch of the first US-based BTC ETF is just around the corner and could lead to a bull run for the asset:
“We expect prices to rise further than before the halving. This suggests that it may reach the $100,000 mark before the end of 2024.
Who else believes that BTC can jump to $100K?
Several celebrities have predicted that Bitcoin will eventually hit $100,000.
It is one example. Robert Kiyosaki – American businessman, motivational speaker and author of the book “Rich Dad, Poor Dad”. According to him, 2024 will be a doomsday for the US dollar, which could lead to a price explosion for BTC to $120,000.
British cryptographer and blockchain CEO – Adam Back – also released a prediction; Guess The property will reach $100,000 before it is halved.
If you want to dive deeper into the subject and explore more BTC predictions from famous personalities, check out the video below.
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