# Bitcoin could hit $100,000 by end-2024, Standard Chartered says
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-24
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Bitcoin could hit $100,000 by end-2024, Standard Chartered
Meta Description: Standard Chartered predicts bitcoin to hit $100,000 by end-2024, citing a favourable market environment and improved profitability for crypto mining.
URL: https://financedigest.com/bitcoin-could-hit-100000-by-end-2024-standard-chartered-sayshtml

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# Bitcoin could hit $100,000 by end-2024, Standard Chartered says

By Elizabeth Howcroft

LONDON (Reuters) – Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered said on Monday, saying that the so-called “crypto winter” is over.

Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the U.S. Federal Reserve ends its rate-hiking cycle and improved profitability of crypto mining, Standard Chartered’s head of [digital assets research Geoff Kendrick said in a note](https://www.financedigest.com/the-pulmonary-renal-syndrome-treatment-market-to-replenish-on-a-digital-note.html "The Pulmonary Renal Syndrome Treatment Market to replenish on a digital note").

While sources of uncertainty remain, we [think the pathway to the USD 100,000 level is becoming](https://www.financedigest.com/more-than-a-third-of-people-think-cash-will-become-obsolete-in-the-next-25-years.html "More Than a Third of People Think Cash Will Become Obsolete in the Next 25 Years") clearer,” Kendrick wrote.

Bitcoin has rallied so far this year, [rising above $30,000 in April](https://www.financedigest.com/italy-cpi-rises-again-in-april-amid-energy-prices-volatility.html "Italy CPI rises again in April amid energy prices volatility") for the first time in ten months. It gains represent a partial recovery after trillions of dollars were wiped from the crypto sector in 2022, as central banks hiked interest [rates and a string of crypto firms](https://www.financedigest.com/sterling-holds-firm-after-uk-jobs-data-muddies-rate-outlook.html "Sterling holds firm after UK jobs data muddies rate outlook") imploded.

[Predictions of sky-high valuations have been commonplace during bitcoin’s](https://www.financedigest.com/devere-officially-launches-cryptocurrency-app-with-bold-bitcoin-predictions.html "deVere officially launches cryptocurrency app with bold Bitcoin predictions") past rallies. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 by the end of 2022. It closed [last year](https://www.financedigest.com/over-50-of-businesses-increased-their-cyber-security-budget-last-year-amid-attacks.html "Over 50% of businesses increased their cyber security budget last year amid attacks") down about 65% at $16,500.

(Reporting by Elizabeth Howcroft; editing by Tom Wilson and Louise Heavens)


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