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Bitcoin's Dynamic Surge Towards $100,000 by 2024: Navigating Current Trends and Unpacking Standard Chartered Bank's Bold Prediction

In the ever-evolving realm of digital finance, cryptocurrencies have disrupted traditional financial paradigms, with Bitcoin (BTC) consistently dominating headlines. This digital currency has sparked widespread debates and intense interest among investors globally. A key focal point in today’s discussion is the audacious Bitcoin prediction by Standard Chartered—a milestone too significant to overlook.

Standard Chartered's Bold Bitcoin Forecast

Recently, Geoff Kendrick, the Head of Crypto Research at Standard Chartered Bank, projected that Bitcoin is on track to reach an astounding $100,000 by the end of 2024. As of now, Bitcoin stands robustly at $43,000 USD, indicating a notable upswing in its market value. This increase has reignited interest in the cryptocurrency space, with Kendrick noting that the rising market cap of digital assets will likely be a major driver of Bitcoin’s price growth.


Emerging Market Stability

An intriguing development is the latest on-chain data, which shows Bitcoin’s volatility now lagging behind major indices. This indicates a maturing market, potentially more attractive to institutional investors. Kendrick highlighted the growing likelihood of a spot Bitcoin exchange-traded fund (ETF) being approved by the U.S. Securities and Exchange Commission (SEC), which could further fuel Bitcoin’s price surge.

Technical Analysis: Breaking Resistance

Technical analysis reveals Bitcoin grappling with a significant resistance level around $42,500. Surpassing this barrier could open the door for substantial gains, in line with Standard Chartered’s optimistic forecast.

Institutional Interest Rekindled

The recent ascent of Bitcoin above $38,200 has sparked a resurgence of institutional interest, lending credence to the bank’s confidence in Bitcoin’s growth trajectory.

On-Chain Analysis: The Corporate Angle

On-chain statistics present a compelling narrative. Bitcoin’s 30-day Average Intra-Day Volatility is currently lower than that of the S&P 500 and NASDAQ-100 indexes, as per IntoTheBlock data. This reduced volatility may signal Bitcoin’s emergence as a mature asset class, enticing further corporate investment.

Bitcoin to reach $100k as said By standard chartered
Crypto Bull-Run

The Halving Effect

With the next Bitcoin halving scheduled for April 2024, there is anticipation that bullish BTC holders might be less inclined to sell. Historically, such events have led to a spike in Bitcoin’s value, potentially propelling it towards the $100,000 mark forecasted by Standard Chartered.

Addressing the Critiques

Bitcoin’s journey has been marked by dramatic highs and lows, leading critics to point out its inherent volatility and potential investment risks. Environmental concerns regarding Bitcoin mining’s high energy consumption also add to the critiques.

The Investment Conundrum

When considering investing in Bitcoin, the wisdom of diversification rings true. Global In/Out of the Money (GIOM) data suggests a significant number of holders bought Bitcoin around the $42,000 level. As the price approaches this level again, we may see a mix of profit realization and a potential surge past this resistance.

Risk and Reward: A Delicate Balance

Bitcoin, like any investment, carries risks. However, the immense growth potential and the bullish outlook from institutions like Standard Chartered make it an asset worth considering for a diversified investment strategy.

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Viperatech.com - Bitcoin-to-reach-100k-as-said-By-standard-chartered

The Bearish Scenario

Should Bitcoin’s price fall below $30,000, support might come from the 6.45 million holders who purchased at an average of $30,400. Their commitment to hold could play a pivotal role in stabilizing Bitcoin’s price in the foreseeable future.

A Balanced Outlook

The vision of Bitcoin reaching $100,000 by 2024, as projected by Standard Chartered, is ambitious yet supported by market trends and expert opinions. Investors should balance optimism with reality, recognizing the volatility and risks, while also acknowledging the growing acceptance and interest in Bitcoin from the business and financial sectors.


Standard Chartered’s Bitcoin prediction symbolizes a forward-looking perspective in the financial world, inviting exploration beyond traditional boundaries. However, as we venture into this promising future, the importance of risk management, portfolio diversification, and staying informed for making prudent investment decisions remains paramount.


Stay engaged with us as we continue to unravel the intricacies of the cryptocurrency world, offering insightful strategies and valuable investment advice.


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