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Standard Chartered, a banking and financial services company based in the United Kingdom, made a prediction regarding the potential price levels that Bitcoin, the leading cryptocurrency, could reach at the end of 2023 and 2024.
Standard Chartered’s Bitcoin Prediction
According to Reuters, Standard Chartered updated its Bitcoin price predictions for 2023, pointing to $50,000 levels.
Moreover, Standard Chartered, a banking and financial services company based in the United Kingdom, also shared a prediction for the leading cryptocurrency Bitcoin for the year 2024. While Standard Chartered analysts made a forecast that BTC could reach $120,000 by the end of 2024 and suggested that the “crypto winter” is ending, Geoff Kendrick, one of the bank’s foreign analysts, emphasized that he expects a 20% increase in BTC at present.
Bitcoin (BTC) Falls Back to Critical Price Levels
Bitcoin (BTC), the leading cryptocurrency that picked up momentum in mid-June, has returned to a decline within the last week, even though it exceeded $31,000 levels at the end of June. Although BTC rebounded after a brief drop below $30,000 last week, it has not yet surpassed $30,500.
In addition, Bitcoin‘s recent decline has led to significant losses in many cryptocurrencies in the market. Ethereum (ETH), after its recent declines, began trading at $1,860, while the total market value of the cryptocurrency ecosystem has fallen to $1.17 trillion, according to CoinMarketCap (CMC) data.
