- This was made possible by the banking crisis in the U.S. and the reduction of pressure from the Federal Reserve
- As a result, BTC capitalization is expected to increase by 50-60%
- If this trend continues, the asset will pass the $100,000 level by the end of next year
While on April 24, Standard Chartered published the report “Bitcoin – Pathway to the USD 100,000 level”..
The organization’s analysts believe that crypto-winter is over, and due to a number of factors, BTC may break the ceiling of $100,000 by the end of next year.</nbsp;
The Standard Chartered report cites the following factors that are expected to impact the asset’s exchange rate:
- the U.S. banking crisis, which has strengthened BTC’s position;
- improving the broad macroeconomic backdrop for risk assets due to the Fed’s interest rate hike cycle ending;
- regulatory and financial problems at major stablercoin issuers;
- increasing acceptance of BTC as an option for savings.
“Given this, we expect bitcoin’s share of the digital asset market to move into the 50-60% range in the coming months,” the report said.
We note that this figure is currently around 47%. In March, when SVB collapsed, it did not exceed 40%, which indirectly confirms the conclusions of analysts. The asset now trades at $27,270.2.
Halving will also have a positive impact on BTC rate movements, as Standard Chartered expects:
“It will make cyclical factors more constructive, improving predictability.”