Standard Chartered Analyst: Bitcoin Expected to Reach $100,000 by End of 2024, Cryptocurrency Winter is Over

"We believe that Bitcoin (BTC) has the potential to reach $100,000 by the end of 2024, as we think the widely publicized 'crypto winter' has finally come to an end," said Standard Chartered analyst Geoff Kendrick in a recent report.

Bitcoin to Reach $100,000 by the End of 2024?

On Monday, Standard Chartered analyst Geoff Kendrick stated in a report titled "Bitcoin — Pathway to the USD 100,000 level" as reported by CNBC.

His reasons include:

• Establishment of Bitcoin's position amidst traditional financial disasters – He believes that the collapse of Silicon Valley Bank (SVB) and other mid-sized banks in the U.S. solidifies Bitcoin's status as a "decentralized, trustless, and scarce digital asset." The pressure faced by traditional banks will benefit Bitcoin's performance.
• Stabilization of risk assets, speculation that the Federal Reserve will further ease monetary tightening policies
• Bitcoin halving

Bitcoin's Market Cap Expected to Reclaim Over 50% in the Coming Months

He believes that Bitcoin's digital asset share will return to the range of 50-60% in the next few months.

As of the time of writing, Bitcoin's market cap dominance stands at 45.9%:

The Bitcoin Million Dollar Bet: A Million in 90 Days?

Another bold Bitcoin price prediction may come to fruition sooner.

Former Coinbase CTO Balaji Srinivasan began a bet on March 17th with a prominent hyperinflation skeptic, James Medlock, that Bitcoin will reach $1 million in 90 days. If Bitcoin surpasses $1 million within 90 days, Balaji Srinivasan wins and receives 1 BTC and 1 million USDC.

About the Bitcoin million dollar bet