Standard Chartered maintains prediction that Bitcoin will reach $100,000 by the end of 2024 | CoinDesk JAPAN

Standard Chartered Bank said on the 28th that the situation is progressing as expected, and that Bitcoin (BTC) will reach $100,000 (approximately 14.5 million yen, equivalent to 145 yen per dollar) by the end of 2024. Prediction maintained.

The bank’s Geoff Kendrick and his team expect the next thing to happen is the approval of a Bitcoin spot ETF in the U.S., which is “likely to come sooner than expected.” did.

“We believe a number of physical ETFs will be approved for both Bitcoin and Ethereum (ETH) in Q1 2024, paving the way for institutional investment,” the team said.

The team also noted that Bitcoin’s next halving will be another factor in the price increase.

Standard Chartered Bank initially made a $100,000 forecast in April, arguing that Bitcoin benefits from its branded safe-haven status. On this day, he maintained his expectations, saying, “Simply put, everything is working as expected,” and that “Bitcoin’s dominance in the total market capitalization of digital assets has remained, at 45% compared to April.” “It has increased from 50% to 50%.”

According to Standard Chartered Bank, Bitcoin could reach the $100,000 level sooner than the end of 2024. “We now expect even more price appreciation to materialize before the halving than before, especially if the US spot ETF is introduced sooner than expected. “This suggests a risk that could reach the level of

｜Translation and editing: Rinan Hayashi
｜Image: Chengting Xie / Unsplash
｜Original text: Bitcoin Remains on Track for $100K by Year-End 2024: Standard Chartered