Standard Chartered Bank reported on Monday that "Bitcoin could reach $100,000 by the end of 2024 and that what is referred to as the 'cryptocurrency winter' may be over." Jeff Kendrick, the head of digital asset research at Standard Chartered, stated that "Bitcoin could benefit from factors including recent disruptions in the banking sector, the stability of risk-exposed assets as the Federal Reserve (the U.S. central bank) pauses its interest rate hiking cycle, and improved profits from cryptocurrency mining. He added, 'While sources of uncertainty remain, we believe the path to the $100,000 level has become clearer.'"
Bitcoin's value has risen this year, surpassing $30,000 in April for the first time in ten months. These gains represent a partial recovery after the cryptocurrency sector lost trillions of dollars in 2022.
