“Standard Chartered” Bank has revealed that “Bitcoin”, the largest cryptocurrency, could reach $100,000 by the end of 2024 and that the so-called "cryptocurrency winter" is over. Bitcoin could benefit from factors including the recent turmoil in the banking sector, the stability of risk-at assets when the Federal Reserve pauses its cycle of interest rate hikes, and improved profits from cryptocurrency mining.
Bitcoin's value has risen this year as it climbed above $30,000 in April for the first time in a decade. These gains represent a partial recovery after the cryptocurrency sector lost trillions of dollars in 2022 when central banks raised interest rates and a group of companies in the field collapsed.
Source (Asharq Al-Awsat Newspaper, Edited)
