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Bitcoin Could Touch $100K by Year-End, Standard Chartered Analysts Predicts

by Miki 09/09/2021
by Miki 09/09/2021 0 comment

Bitcoin (BTC) is one of the top assets globally that received the biggest attention in the past year, as the flagship cryptocurrency has witnessed varying price turbulence within the time period.

Despite the possibility of the coin’s volatility getting the better part of it, crypto researchers from Standard Chartered, led by Geoffrey Kendrick, are potentially looking at a price top of at least $100,000 by year-end.

The bull run that will lead to the cryptocurrency’s price attaining this price level may extend into 2022, and the analysts forecasted a bullish high of $175,000 in the long term. The analysts cited the crucial role the digital currency will play in the future global payments ecosystem.

“As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,” the analysts said, “Cyclically, we expect a peak around $100,000 in late 2021 or early 2022.”

A performance note was also dropped on Ethereum (ETH), with a price top of $26,000-$35,000 being “structurally” projected for the coin. However, for this price to be attained, the analysts said Bitcoin would need to maintain $175,000.

Bitcoin still remains the primary digital currency that is being sought after by institutional investors. There is a possibility we would begin to see massive inflows of cash from this point toward the end of the year, as many firms will look to tap into the growth surge that the coin is known to showcase toward the end of the year.

Ethereum also has a robust ecosystem activity through decentralised finance upsurge and Non-Fungible Token (NFT) protocols, making the network their home. The Ethereum coin is now also a deflationary coin, with a potential impact on the coin’s future price.

At the time of writing, Bitcoin was trading for $46,040.80, down 2.29%, and Ethereum has shed 0.78% to $3,499.46, according to CoinMarketCap.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

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      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

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      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

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  • Analysis
    • Analysis

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      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

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      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

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      Analysis

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      12/27/2021

  • Blockchain
    • Blockchain

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