Standard Chartered: Bitcoin will reach $100,000 by the end of 2024

Expert Geoff Kendrick and his team of analysts believe the next catalyst will be the approval of a Bitcoin ETF in the US, which will "likely be sooner than expected."

“We think a number of spot ETFs will be approved in the first quarter of 2024. This will pave the way for institutional investment in Bitcoin and Ethereum,” they write.

In April, Standard Chartered analysts already predicted that Bitcoin would rise to $100,000.

“Everything is working as expected. BTC’s dominance remains unchanged,” experts write. “We now expect there to be more price increases ahead of the halving. It follows that a Bitcoin price of $100,000 could be reached before the end of 2024.”

Dan Tapiero, managing partner and CEO of 10T Holdings, also believes in a $100,000 Bitcoin. The businessman believes that Bitcoin is becoming an increasingly attractive store of value.

Bitcoin will become a global macro asset with a market capitalization of over $3 trillion in the future, according to a new report from research firm Bernstein.