Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Bitcoin on track to hit $100,000, says Standard Chartered

by April 25, 2023
April 25, 2023
Bitcoin on track to hit $100,000, says Standard Chartered

Bitcoin could reach $100,000 by the end of next year, an analyst at Standard Chartered has claimed.

Geoffrey Kendrick said he expected investors to pile their money into cryptocurrency markets now that the “crypto winter” was over.

This month the digital currency’s value rose above $30,000 for the first time since June, although it has slipped back in recent days.

Despite this, Kendrink, the bank’s head of digital assets research, said the recent turmoil around the global banking sector had helped to re-establish bitcoin’s status as a safe-haven asset class.

Kendrick also highlighted other factors, including the improved profitability of crypto mining; the stabilisation of risk assets; and expectations that the Federal Reserve would ease its monetary tightening policy.

These should make the pathway to the $100,000-mark clearer, he said, adding that regulatory developments should provide further tailwinds. Kendrick noted the European Union’s Markets in Crypto Assets regulation, which he believes “could have constructive implications for investor interest and volatility”.

Bitcoin, the world’s most popular cryptocurrency, embarked on an extraordinary rally in late 2020, through into 2021 and peaking at a cent shy of $69,000 in November 2021. Its worth declined sharply last year, with the currency losing more than two thirds of its peak value, as appetite for it waned amid worries about the health of the global economy and the demise of the now-bankrupt FTX exchange.

The next bitcoin halving — a process whereby the reward for mining a new block is halved every four years for every 210,000 blocks produced — is also poised to be a positive driver for its value. “While we note that previous halvings have had a successively smaller impact on bitcoin prices, prices have bounced around each halving,” Kendrick said. “ This should add a cyclical tailwind to the structural positives at play.”

Predictions of sky-high valuations have been commonplace during bitcoin’s past rallies. In 2020, analysts at Citigroup said they believed it could climb to as much as $318,000 by the end of 2022. However, it closed last year down about 65 per cent at $16,500.

Read more:
Bitcoin on track to hit $100,000, says Standard Chartered

0
FacebookTwitterGoogle +Pinterest
previous post
Leaders Lost & Laggards Won
next post
Majority of UK SMEs abandon international expansion plans due to high trading costs

You may also like

Why excellent stock management is vital to running...

May 13, 2023

Iconic British Land Rover brand to be dropped...

April 19, 2023

Five-year mortgage rates average 6% for first time...

July 4, 2023

Kwasi Kwarteng to announce network of low-tax investment...

September 20, 2022

BT Fined £2.8 Million by Ofcom for Contract...

May 23, 2024

Government to launch campaign to encourage public to...

September 8, 2022

How companies can avoid the ‘product death cycle’

February 19, 2024

Unveiling the Benefits of Toto Sites: Safeguarded Gambling...

July 2, 2023

Getting to Know You: Chris Orsaris, Automotive Consultant

March 24, 2023

Homeowner Loan Rates: Unlock the Best Deal for...

November 18, 2024

Why excellent stock management is vital to running...

May 13, 2023

Iconic British Land Rover brand to be dropped...

April 19, 2023

Five-year mortgage rates average 6% for first time...

July 4, 2023

Kwasi Kwarteng to announce network of low-tax investment...

September 20, 2022

BT Fined £2.8 Million by Ofcom for Contract...

May 23, 2024

Government to launch campaign to encourage public to...

September 8, 2022

How companies can avoid the ‘product death cycle’

February 19, 2024

Unveiling the Benefits of Toto Sites: Safeguarded Gambling...

July 2, 2023

Getting to Know You: Chris Orsaris, Automotive Consultant

March 24, 2023

Homeowner Loan Rates: Unlock the Best Deal for...

November 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • You can literally feel Apple’s new ‘F1: The Movie’ trailer starring Brad Pitt

      June 13, 2025
    • Building great leaders: how Chubb Fire and Safety is redefining leadership from the ground up

      June 13, 2025
    • High Court rejects challenge to Labour’s private school VAT policy, dealing blow to parents and schools

      June 13, 2025
    • VodafoneThree pledges £11bn to bring 5G to every corner of the UK by 2034

      June 13, 2025
    • GOP Senator Ron Johnson says he’s ‘trying to force reality’ on DC

      June 13, 2025
    • Israel hits the ‘heart’ of Iran’s nuclear program in Natanz facility strike

      June 13, 2025

    Categories

    • Business (8,204)
    • Investing (2,031)
    • Politics (15,627)
    • Stocks (3,144)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved