Financial experts at Standard Chartered have predicted that the price of Bitcoin could reach $100,000 by the end of 2024.
This bullish outlook is attributed to the increased attention and interest in Bitcoin among investors following the collapse of several US banks, including Silicon Valley.
The analysts note that the so-called “crypto winter” appears to be over, paving the way for Bitcoin’s rise in popularity as a decentralized digital asset.
The advantages of Bitcoin over traditional banking systems are also cited as contributing factors to its superior performance.
Standard Chartered predicts that Bitcoin’s share of the total market capitalization of digital assets could rise to 50-60% in the coming months, up from the current level of 45%.
At the time of writing, Bitcoin was trading at $27,410, indicating that there is still a long way to go to reach the $100,000 target.
However, there are strong indications that Bitcoin’s value will continue to rise, with experts such as the author of Rich Dad Poor Dad, who has publicly expressed his support for Bitcoin and believes that it will soon be worth $100,000.
Despite this positive outlook, not everyone is a fan of cryptocurrencies.
Dogecoin enthusiast Billy Mapkus has recently criticized crypto investors, labeling them as “mentally disabled”, while also expressing his disdain for NFT buyers, whom he believes are even more unhealthy.