Standard Chartered Bank maintains a bullish stance on Bitcoin, reiterating its April prediction that Bitcoin (BTC) is on track to hit $100,000 by the end of 2024. Key factors influencing this forecast include the expected approval of several U.S.-based spot Bitcoin ETFs in the first quarter of 2024, which are anticipated to fuel institutional investment in both Bitcoin and Ethereum. Furthermore, the upcoming Bitcoin 'halving' event, slated for late April 2024, is seen as another catalyst for price appreciation. The bank also notes Bitcoin's sustained dominance in the digital asset market, with its market cap share increasing from 45% to 50% since April. There's even speculation that Bitcoin might reach the $100,000 milestone earlier than anticipated, potentially before the halving, driven by the early introduction of U.S. spot ETFs.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.