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Recent negative headwinds will not last a “perfect storm.” Bitcoin Back, and the highest value of the digital asset will still reach $ 150,000 per coin this year, according to Standard Chartered.
A report by the Bank of Britain on Tuesday said that despite the war in the Middle East, high Treasury yields and a slowdown in money supply. Recently approved As for bitcoin exchange-traded funds (ETFs), the asset still has room to climb.
Bitcoin hit a new all-time high of nearly $74,000 last month but has since fallen. of The price of BTC It now stands at $64,840, CoinGecko data shows. But digital assets researcher and report leader Jeff Kendrick says the big coin will continue to emerge.
ETF flows were held back by a number of macro factors, including higher Treasury yields and challenging assets due to geopolitical developments in the Middle East.
“Furthermore, the first wave of ETF purchases may be largely over, and the next wave should be expected to include ETFs with a broader range of macro funds (with a smaller allocation in different funds),” the report continued. “This may take time; for now, this strong positive momentum has stalled.
“We are reiterating our end-2024 target levels of $150,000 for Bitcoin and $8,000 for Ethereum,” Kendrick added.
Standard Chartered First predicted Last month, Bitcoin hit $150,000 per coin this calendar year – and he asserted. That's what he said. Ethereum So does a rocket.
A Huge sale It started before cryptocurrency. Cut in half And just as Iran launched an unprecedented attack on Israel. Even before those developments, though, little money was coming in. Very popular Bitcoin ETFs, which were approved by the Securities and Exchange Commission in January.
After trading below $17,000 in January 2023, Bitcoin has bounced back. Approval of several Bitcoin ETFs—including Allowing ordinary investors Exposure to the property through a broker's account – this year has only helped to increase its value.
Edited by Ryan Ozawa.
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