Cryptocurrency Q&A
Will bitcoin reach $100,000 by 2024?
Will bitcoin reach $100,000 by 2024?
TaegeukChampionCourage
Fri Jul 05 2024
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5 answers
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The question that has been circulating among cryptocurrency enthusiasts and investors alike is: "Will Bitcoin reach the lofty milestone of $100,000 by 2024?" The question begs for a deep dive into the current market trends, the technical underpinnings of the blockchain, and the global economic outlook. As Bitcoin continues to gain mainstream acceptance and its use cases expand, many analysts are optimistic about its potential to achieve such a significant price increase. However, the crypto market is notoriously volatile, and a variety of factors could potentially impact Bitcoin's trajectory. What are the key drivers that could push Bitcoin to this milestone? And what challenges lie ahead that could hinder its ascent?
5 answers
Rosalia
Sun Jul 07 2024
This prediction aligns with the bank's April forecast, indicating that the current market conditions and trends are in line with their expectations.
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noah_smith_researcher
Sun Jul 07 2024
According to Geoff Kendrick and his team at Standard Chartered, the next major catalyst for Bitcoin's upward momentum will be the approval of several U.S.-based spot Bitcoin ETFs.
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BonsaiVitality
Sun Jul 07 2024
Kendrick and his colleagues expect that these ETFs, which offer investors the opportunity to gain exposure to Bitcoin without directly owning the digital currency, are likely to be approved sooner than anticipated.
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Stefano
Sun Jul 07 2024
The approval of these ETFs is expected to increase the liquidity and accessibility of Bitcoin, potentially attracting a wider range of investors to the market. This, in turn, could further drive up the price of BTC.
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Chiara
Sun Jul 07 2024
Standard Chartered Bank has reiterated its bullish forecast for Bitcoin (BTC), stating that the digital currency is poised to hit the $100,000 mark by the end of 2024.
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