The price of a Bitcoin could cost millions of dollars: Standard Chartered

[Assiduous]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

[_act_]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now. This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

[AicecreaME]

Well, it could.

But since we're talking about cryptocurrency, we never know what is waiting for us in 2024 and to the next coming years. No one can predict the next all time high price for Bitcoin but for sure, it will skyrocketed again and again until it can't anymore. The only thing that we could do is to save bitcoin as much as we can and wait for every all time high to sell it to make huge profits.

Also, never ever do panic selling just because  of FUDs.

[Hamza2424]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now. This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

Hmm, You seem to be more confident, well I am in your support of the view but I am not confident about the price range before 2024, and interestingly I was reading this before your post, shared by a friend



So "Capo is a crypto analyst and he made some weird prediction a long time back at the start of the year and he is getting continuously trolled by the Bitcoiners on every pump". Recently I heard this story and I think we should not mess up with the feelings of Bitcoiners   otherwise, the results are in front of you. Social media will troll you brutally.

[Ayers]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now. This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

You know? How do you know for sure bitcoin will hit $100k before the end of 2024? We all expect the 2024 halving to produce a bull run as history has shown, but that doesn't mean it will immediately trigger a bull season and bitcoin will hit its ATH within that year. Everything is just conjecture, we have no proof to be sure of anything. I'm optimistic about the future of bitcoin, bitcoin will hit $100k is something I'm pretty sure too, but I won't jump to conclusions like you.

[KiaKia]

All I know is before 2021/bull market some people have been calling 1milliion doallrs Bitcoin at the time, you just have to choose, are you a Bitcoin realist or a Bitcoin investor who get controlled by predictions? Choose a side.

Are you going to stay realistic or you are going to keep dreaming about something that's not possible for the next 10 years? I said this because it's the fact, we haven't found a base on 100k BTC and we have 200k, 300k but some are calling a million, bravo, well done.

I don't think Bitcoin will go over 120k in 2024 or whenever the next bull market comes, you will fail yourself if your target is too high.

[boyptc]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 1 lakh 20 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

It's not something new whenever the price of Bitcoin is going up, the crowd goes back on it and deals with the craze that they've been with before.

And it's not surprising as well that these institutions are giving high numbers although it's truly possible but, they're all telling it with a good timing.

It's like that we're about to see the bull run, and they know that people are all ears again to Bitcoin. Thus, they're giving good predictions and numbers but whenever we enter the bearish time, you'll not hear anything from them.

[Yamane_Keto]

The beginning of the positive news is confirmation of the end of the worst, but it is not proof that the best is coming, meaning that this news confirms that the bottom may be, that we will not return to levels less than 20,000 and that the break-even point and stability is at 30,000 as traders and speculators tend to believe that the price of Bitcoin will increase and thus Sale decreases.

[rat03gopoh]

Are you going to stay realistic or you are going to keep dreaming about something that's not possible for the next 10 years? I said this because it's the fact, we haven't found a base on 100k BTC and we have 200k, 300k but some are calling a million, bravo, well done.

I only have the halving cycle base.
The months before the 2021 bullrun I didn't find a single support base prediction that bitcoin would reach almost $70k, while the economic situation was so sluggish that I'm sure no realist would've guessed that bitcoin would even reach $20k again.

[Aanuoluwatofunmi]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now.

That's true without a doubt, next year is going to mark a another major phase of bitcoin push to a new all time high and some have already predicted $150,000 or close to, now we don't need the institutions to give us this notification because we already know and have plans towards that coming next year, i want to assume they will also take a good advantage of this major event to invest now and hodl before the bullrun.

This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

If they say contrary to what we have believed or known about bitcoin we can never be convinced, another thing to fall back on is to go through the background history of bitcoin over the years and gain more confidence that even if others are not seing it, we are expecting it to happen come next year.

[rhomelmabini]

They're not the very first influential people that made such claims even the late McAfee says it will reach $500k but likely not in the coming years. Probably the best possible scenario is a $100k touchdown in the coming bull run, we gonna speculate the rest when it touches first that psychological level. This 2024 or 2025 I am expecting we will witness that.

[Dr.Bitcoin_Strange]

It's been noted that during Bitcoin halving, there is always a hike in the price of Bitcoin, and that's the reason for quite some current speculation about the price of Bitcoin. Although there's just a little bit of doubt that Bitcoin can reach $100k before the year 2024 ends, the reason is that we are not very sure of what that year can bring. Just like some people also speculated that it could get to $90 to $100k during the last bull run, it didn't. By the way, most people did not even expect the last ATH. But the truth is that anyone who wants to invest in Bitcoin should not wait for the bull market before they can begin to invest.

[Ndabagi01]

These are just hypotheses, and I appreciate how open and prompt they are with their assumptions. They made all of these assumptions based on current market events, as well as previous and upcoming market events. We are all bitcoin lovers who believe that the price of bitcoin will rise in the near future. We will not see much of another bear market before the bull run, and the event following the bull run could be the best and highest price bitcoin will reach by next year 2024. News like this from huge influencers gives optimism to ordinary individuals who have just made investments in the aim of profiting in the future.

[tabas]

They're not the very first influential people that made such claims even the late McAfee says it will reach $500k but likely not in the coming years.

IIRC, John had predicted Bitcoin $1M and that was even around $1M but it's all about for the hype and there's no analysis that he's given. Well, RIP John.

Probably the best possible scenario is a $100k touchdown in the coming bull run, we gonna speculate the rest when it touches first that psychological level.

$100k is the majority's speculation on how high Bitcoin is going to be for the next bull run. It was the last bull run's predicted peak but it didn't happen.

This 2024 or 2025 I am expecting we will witness that.

These years are like the bull run moments and we shall see how much it's gonna be and how high is going to be the peak. These institutions have got their own predictions and so do we.

[el kaka22]

I am not sure when this will happen, but it certainly looks like something we could like as well, it's a lot of money. I can't say how long it will take though, millions of dollars is a lot of money, I can see it reach to 500k at this point but that's about it, and I guess it is going to be a bit of a problem as well.

Think about it, 500k or so is the gold marketcap for bitcoin, if price of bitcoin reaches about 500k, that means bitcoin marketcap would be similar to gold market cap, when we are talking about millions of dollars, that means we will be bigger than gold marketcap multiple times. I am not saying that can't happen, but it would not be easy to happen and that's going to be a bit of a trouble in the end for sure.

[adaseb]

For those that don’t know. But Standard Chartered had a prediction in Dec 22 right after the FTX implosion that Bitcoin will hit $5000. Pretty much made this prediction right at the bottom.

And now they think it will hit $120K by 2024. This is proof you can’t take any of these articles seriously because nobody knows what will happen. Even a large company like this who is very wise and has tons of capital. This is no different than those $100K or $1M predictions we’ve been seeing.

[yudi09]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 1 lakh 20 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

I welcome the estimated price of Bitcoin as made by Standard Chartered. For me, this kind of estimate must be reported more and more from now on and so on to be known by many people.
2024 will be a historic year for everyone who has Bitcoin.

We all hope that the price increase as expected can happen as soon as possible even though anyone can not be sure it will happen with certainty.
There is an increase in prices that occur after the estimation is not made. Likewise with the reporting of SEC recognition for ETF Spot BlackRock, Vaneck and several others.



I still survive with $100,000 estimates to date, of course I will be very happy if there is a higher estimate coming from Standard Chartered and from other parties.
This will be a reinforcement of hope.

[Husires]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now.

Do not build high hopes on ATH or any price near to it, but rather build them on buying price, that is, assuming that the price of bitcoin will not be lower than your purchase price. that mean try to buy bitcoin in the range of $15,000 to $30,000, and then you will achieve gains at the bottom of the new cycle, which may be between $40,000 to $60,000. This is how your economic calculations are based on the worst scenario, and if Bitcoin reaches the price of 100K, you are a winner, not the other way around.

it is good to buy it now it is marked by the bottom, not the top.

[Nrcewker]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now. This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

I would say that’s really a wild guess. We need to first watch how Bitcoins are doing in 2023. I am also a supporter of bitcoins. I also know that 2024 will be a big year for bitcoins. We will definitely see a new ATH price, but it won’t be more than 85,000 USD. Yes, so buying the coins now will really be beneficial for everyone. Buy as many coins as you can now and hold them till the next bull run. I bet you will definitely make three times the amount you invested as a profit.

[goaldigger]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 1 lakh 20 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

This might be exaggerated and this is crypto, we all know its hype though with Bitcoin, there might be a chance.
This may take years, and adoption should happen if we really want to see Bitcoin at this level. Imagine everyone having their own Bitcoin while the supply is limited, its value will surely hit the moon. The total supply is getting smaller too because of the halving, I expect Bitcoin to be on a six digit level in the next 5 years.

[btc_angela]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 1 lakh 20 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

This might be exaggerated and this is crypto, we all know its hype though with Bitcoin, there might be a chance.
This may take years, and adoption should happen if we really want to see Bitcoin at this level. Imagine everyone having their own Bitcoin while the supply is limited, its value will surely hit the moon. The total supply is getting smaller too because of the halving, I expect Bitcoin to be on a six digit level in the next 5 years.

Six digits in the next 5 years? Personally, I think we might see six digits this bull cycle. So I will go with the popular opinion here, might be a conservative estimates of $100k at least as our next ATH in 2024-2025.

And for sure if you are talking about the next bullish phase after next year, then it could be even more but I won't give any numbers yet as we have to experience ATH in 2024-2025 in which it will be the first time that we might see six digits in our history. So it's going to be big for us if we are going to hit that after the block halving in March next year.

[South Park]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

It is better to ignore those predictions because no one really knows what is going to happen during the next years, they may serve as a way to measure the expectations other people and institutions have of this market, but at the end bitcoin will move according to the demand there is at the time, and if the demand is high then many of our predictions will fall short, while if the demand is low then we may have problems reaching even some of the most conservative predictions we see out there.

[AnonBitCoiner]

As this year is successfully going so it indicates that price will reach to higher value and bitcoin will touch the value of more than 50k$. 100k$ is not an easy achievement and I don't think that this year bitcoin will reach to mentioned value but in next year the price will surely reach to hundred thousand dollars.
This year is very amazing for all bitcoin holders but I think no one will sell bitcoin due to prediction of more increase in price but the next year will also be more amazing for those who take good decision without following the behavior of greed because halving is the stage when most of the holder will prefer to sell and take larger sum of money so directly price will goes down.

[TravelMug]

As this year is successfully going so it indicates that price will reach to higher value and bitcoin will touch the value of more than 50k$. 100k$ is not an easy achievement and I don't think that this year bitcoin will reach to mentioned value but in next year the price will surely reach to hundred thousand dollars.
This year is very amazing for all bitcoin holders but I think no one will sell bitcoin due to prediction of more increase in price but the next year will also be more amazing for those who take good decision without following the behavior of greed because halving is the stage when most of the holder will prefer to sell and take larger sum of money so directly price will goes down.

$100k might be an easy feat, that's why we say during the last bear market, then $50k was tough to reach but look at what is the last all time high that we got, $69k. So never underestimate the market or what the investors are willing here.

There could be millions upon millions in the next bull run. So I wouldn't be doubted that we can reach 6 digits and then goes for a $1 m in the next decade or so. Bitcoin has just started and as the supply dwindle and demands going up, the price is going to soar in the future, it's inevitable.

[m2017]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

Where were all these analysts before? Let's say 5 years ago or more. Didn't they repeatedly bury bitcoin and claim that is the financial bubble and empty shell?

Now, who is not lazy, bitcoin-analysts have become and boldly give positive forecasts.

Those who have been in the topic of crypto currencies for the past few years, and without Standard Chartered's forecasts, know that bitcoin will reach 100.000$. Maybe at the end of 2024, maybe a little later. It is far from a secret that BTC-halving is coming, that cycles are suitable for the start of a bullrun, in general, they have not announced anything new.

I just don’t understand why the headline is about "Bitcoin could cost millions of dollars" here, while in your post you are talking about a "one hundred thousand" only.

[o48o]

All I know is that bitcoin is rising above $100000 before the end of 2024, it is good to buy it now. This is not about what people are predicting, it is because of what that has been analyzed and predicted technically and the sentiment people have for bitcoin halving. We are moving closer to bull run. But we should not be deceived as if from now to 2024, there wouldn't be any bear market, but the bull run will surpass the bear market.

Why there though? I wouldn't mind it but 100k seems like an arbitrary number that's not based on anything specific. And shouldn't we look further than during this year? Because if bullrun is coming, bitcoin might as well get very much higher than that during that run in longer timeframe. I am not saying it will go parabolic but ~3x is quite small, even with this marketcap for bitcoin. And it will be interesting to see how much on that leaks to altcoin investments, because it will be unhealthy amount i am sure.

[adaseb]

Yes $100k is arbitrary number but so was $20K and you can say it acted as good resistance. I actually assumed Bitcoin would of peaked at $10K and $50K in prior cycles. Was wrong both times. And I think $100K will be the same.

Instead of peaking at $100k it will peak earlier at like $90K or peak after at $110K or so. When $100K break many will buy and probably the top will be around some figure such as $115K or $120K before it reverses like before.

[JoyMarsha]

Let's not circle entire hope on bitcoin by next year that bitcoin will achieve $100k or more in price. despite the tension, hope, and conviction that the price of bitcoin will climb even more in price by 2024. Let investors like us not invest more than we can afford to lose because no price is ever guaranteed to anyone. 

As usual, no one seems to be able to predict the price of bitcoin in the future. Instead of basing your entire outlook on various bitcoin price tags based on what many businesses or crypto enthusiasts have projected about bitcoin, it is best to have level expectations. We cannot predict the price of Bitcoin tomorrow. Since investing in bitcoin never guarantees financial success, having moderate price expectations will do better

[Strongkored]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

I'm quite doubtful that Bitcoin will reach its new highest price next year before going through the halving because if you look at the four-year cycle it takes some time after the halving then after that the Bitcoin price reach the newest ath, but if it can reach its highest price in 2024 then it is very likely that the price will be even higher in 2025, and the price of $ 120,000 is a prediction of the price that Bitcoin will reach in 2021 but it turns out that it only touches half of the predicted price, so predicting the price of bitcoin is easy but many things will affect whether it can be reached later or not, but Bitcoin lovers will always believe that the performance of this coin will always be impressive for the holders, and not so fixated with the predictions of the experts.

[KingsDen]

Let's not circle entire hope on bitcoin by next year that bitcoin will achieve $100k or more in price. despite the tension, hope, and conviction that the price of bitcoin will climb even more in price by 2024. Let investors like us not invest more than we can afford to lose because no price is ever guaranteed to anyone. 

This is exactly what I preach to people. We are mostly bitcoin believers here. And with what I have known about bitcoin. It is a cryptocurrency that has come to stay Bitcoin is yet to make the global impact that is expected of it. This somewhat shows that bitcoin will reach and exceed 100,000 dollars and possibly bitcoin can make $1m and above but then when will this be? No one knows!

We do not have the ability to know at what time or year bitcoin price will be at a particular range. This is why we should not depend hundred percent on speculations and invest what we cannot afford to lose.

[pooya87]

Yes $100k is arbitrary number but so was $20K and you can say it acted as good resistance. I actually assumed Bitcoin would of peaked at $10K and $50K in prior cycles. Was wrong both times. And I think $100K will be the same.

Instead of peaking at $100k it will peak earlier at like $90K or peak after at $110K or so. When $100K break many will buy and probably the top will be around some figure such as $115K or $120K before it reverses like before.

Historically speaking bitcoin price tends to shoot up after it breaks certain strong resistances, specially round numbers like $10k and $100k. We saw it in 2017 and 2013 and 2010. This means when we reach $100k and go above it, there will be a lot less "friction" for further rise so the price can easily soar up because very few would sell at those prices. Before you know it, price could be half a million...

[OgNasty]

If inflation continues and nothing is done about government deficits, it is likely that most things will cost millions of dollars. I’m sure the average American house will be valued in the millions probably in the next 10-15 years. Then new cars 10 years beyond that. I think you could definitely make the case for a 8 figure Bitcoin come 2040, but the environment that will make that possible will also be what robs future generations of ownership of things.

[Aanuoluwatofunmi]

Let's not circle entire hope on bitcoin by next year that bitcoin will achieve $100k or more in price. despite the tension, hope, and conviction that the price of bitcoin will climb even more in price by 2024. Let investors like us not invest more than we can afford to lose because no price is ever guaranteed to anyone. 

This is exactly what I preach to people. We are mostly bitcoin believers here. And with what I have known about bitcoin. It is a cryptocurrency that has come to stay Bitcoin is yet to make the global impact that is expected of it. This somewhat shows that bitcoin will reach and exceed 100,000 dollars and possibly bitcoin can make $1m and above but then when will this be? No one knows!

We do not have the ability to know at what time or year bitcoin price will be at a particular range. This is why we should not depend hundred percent on speculations and invest what we cannot afford to lose.

I understand your both insinuations over here not to be overconfident or too way forward with the bitcoin market price over the next year Halving coming, sure you're both right to an extent but the little observation and addition to that is in knowing what exactly we are dealing with, bitcoin is unlike altcoins whereby we cant predict the outcome from the price, it's not what we just take from people or developers, bitcoin price is determined by its market demands and supplies, there's also one thing I will quickly like to cheap in here which is consistency about bitcoin, every four years there will always be halving which bullrun follows this event, which means definitely there will be bullrun and he market price will surge, but never forget that this also marks a period of higher market price volatility whereby while some are winning some may be loosing as well.

[yhiaali3]

Let's not circle entire hope on bitcoin by next year that bitcoin will achieve $100k or more in price. despite the tension, hope, and conviction that the price of bitcoin will climb even more in price by 2024. Let investors like us not invest more than we can afford to lose because no price is ever guaranteed to anyone. 

Yes, I agree with you on this point of view. No one can accurately predict the price. Yes, everyone is optimistic about the price after the halving, but we should not base our hopes on these expectations.

Although I am optimistic that Bitcoin will reach these prices and perhaps further, caution is required in any case. I always follow the golden rule "Do not risk more than you can afford to lose".

I have been following the DCA strategy from a while back to the time of halving and this will allow me to get a very good average price until that time.

[dansus021]

well next year is halving and end of 2024 or early 2025 maybe the price can really hit the market hard, More countries join to regulate crypto in a better way more and more companies want to get the "splash" of crypto too so big investment managers like black rock also want to join and the previous ath is 60K I think the 100K is easy to achieve.

All time high even could be more than 100K if economy stable or on the rise and the adoption getting bigger

[Reatim]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

but the whole thread does not mention about the possibilities of reaching 1 million ?  the title is misleading and you did not bring the link here about those statements of Standard Charter.

But talking about to reach Million dollar is always a reality for us but its just that we need to understand when this to happen and what would be the consequences from the holders.

[justdimin]

I'm quite doubtful that Bitcoin will reach its new highest price next year before going through the halving because if you look at the four-year cycle it takes some time after the halving then after that the Bitcoin price reach the newest ath, but if it can reach its highest price in 2024 then it is very likely that the price will be even higher in 2025, and the price of $ 120,000 is a prediction of the price that Bitcoin will reach in 2021 but it turns out that it only touches half of the predicted price, so predicting the price of bitcoin is easy but many things will affect whether it can be reached later or not, but Bitcoin lovers will always believe that the performance of this coin will always be impressive for the holders, and not so fixated with the predictions of the experts.

I agree that it will not reach the highest end before the halving, I believe that it is going to reach there after a while and that should not be that much shocking to most people neither. It is going to be something to care about and we are going to end up with a better return, we just need to make sure that it is not doing all that differently.

It is going to be something to worry about and change but that's just who we are at this point and halving is what we wait for. After halving, things are going to be a lot different and we are going to see it go higher and higher and higher. That's how it has always been like and people are making it happen the same way again because they are so used to buying after the halving.

[Davian144]

but the whole thread does not mention about the possibilities of reaching 1 million ?  the title is misleading and you did not bring the link here about those statements of Standard Charter.

For me it is more beyond reason because the price target is so big that it makes some people say that this title is misleading. Especially if most people start making a comparison with the current price, of course it's a little unreasonable to expect such a big price in the not so distant future.

But talking about to reach Million dollar is always a reality for us but its just that we need to understand when this to happen and what would be the consequences from the holders.

Everyone will find it difficult to know when this can happen because some people still don't think about prices that big now, except for prices that are close to ATH. Actually, it's not that you don't believe in the potential for a bigger price increase, but sometimes it also has to be adjusted to the existing logic where currently the price of Bitcoin itself is still quite cheap in my opinion.

[Lucius]

~snip~
Where were all these analysts before? Let's say 5 years ago or more. Didn't they repeatedly bury bitcoin and claim that is the financial bubble and empty shell?

Back then, they probably weren't interested in Bitcoin to the extent that they are today, or their opinions were drastically different from what they think today, which is why many try to let the past stay in the past. If we look at what Saylor, JMP or even BlackRock thought about Bitcoin 5+ years ago, then it is clear that these so-called "experts" are not exactly what they pretend to be.

As for this particular bank, it is nothing new for them to give their predictions, but so far they have not been very successful.

https://bitcointalk.org/index.php?topic=5459383.msg62599530#msg62599530

[Unbunplease]

I don't think speculators would be interested in bitcoin for millions of dollars. How many centuries will we have to wait for 2x in that case? The maximum we can expect, in my opinion, is 150000. Anything above that is more of an illusion than reality. Although anything can be

[noormcs5]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

Personally, my next market bitcoin target would be anywhere close to 100,000$ and not beyond this. I do not get excited when I see some big institutions claim bitcoin price to reach 250,000$ or 500,000$ or even more in a few months or 1 year time. These price predictions are hard o achieve unless we see a major shift in the world finical system or the government changes its stance from negative/neutral to positive on cryptocurrencies and bitcoin.

Rest these price analyses by big institutions often lead to market manipulation for the short term and nothing else.

[davis196]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN. Maybe the analysts at Standard Chartered have some secret insider information about big institutional investors entering the Bitcoin market by the end of 2024. Or maybe they have insider information about some middle sized underdeveloped country in Asia, Africa or Latin America declaring Bitcoin a legal tender.
I have the feeling that this "analysis" is more like a marketing move. Some Bitcoiners might see that Standard Chartered is totally bullish on Bitcoin(which means that Standard Chartered might be pro-Bitcoin) so they might start using this bank, because they think it supports crypto.
That's a sneaky marketing move(if it's actually true).

[sana54210]

~snip~
Where were all these analysts before? Let's say 5 years ago or more. Didn't they repeatedly bury bitcoin and claim that is the financial bubble and empty shell?

Back then, they probably weren't interested in Bitcoin to the extent that they are today, or their opinions were drastically different from what they think today, which is why many try to let the past stay in the past. If we look at what Saylor, JMP or even BlackRock thought about Bitcoin 5+ years ago, then it is clear that these so-called "experts" are not exactly what they pretend to be.

As for this particular bank, it is nothing new for them to give their predictions, but so far they have not been very successful.

https://bitcointalk.org/index.php?topic=5459383.msg62599530#msg62599530

This is the part where I feel lucky because I never cared about what experts says and did whatever I thought would be better for my future. Experts are usually as much wrong as the noobs because they make grand claims and usually that ends up being false, sometimes they do it knowing that it would blow up in their faces but they need to take a position and in order to take it they need to make sure that people can hear them and in order to be heard you can't say that bitcoin will go up 10%, that won't get you heard and won't be a news, you need to say it will be millions.

This is what they are doing here as well, not that they believe in this, but because they want to be heard and want to attract investors to do business with them.

[Aanuoluwatofunmi]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN.

Being part of the financial institutions, standard chartered bank realizes that bitcoin could get there and achieve as much as that but they will not want to give further explanation on the possibilities to how such could be realized, they only probably invested base on the research they also made and how they have seen bitcoin future prospects if invested, being a bank, they may also not want to go further in explanation due to the fact that they are financial institutions and being the regulated by law, remember they didn't even made mention that they have invested already, but give the possible expectations on bitcoin worth in near future.

[tygeade]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN.

Being part of the financial institutions, standard chartered bank realizes that bitcoin could get there and achieve as much as that but they will not want to give further explanation on the possibilities to how such could be realized, they only probably invested base on the research they also made and how they have seen bitcoin future prospects if invested, being a bank, they may also not want to go further in explanation due to the fact that they are financial institutions and being the regulated by law, remember they didn't even made mention that they have invested already, but give the possible expectations on bitcoin worth in near future.

They are aware where the money is flowing, and they are seeing more and more users are taking their money to crypto and because of that they are aware that there will be a higher price without a doubt. I am not saying that it is going to be right away, and I believe that a million dollars should be possible eventually.

A lot of people think that it is not going to happen but I believe that it is going to happen. For this to happen only thing we need is time, with time it is going to happen eventually. Of course by that time a million dollars may not worth much, maybe an ordinary home that worths about 150k-200k today would be a million dollars by that time, so it is still good and it is still very high, but not as high as todays million dollars.

[coolcoinz]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN. Maybe the analysts at Standard Chartered have some secret insider information about big institutional investors entering the Bitcoin market by the end of 2024. Or maybe they have insider information about some middle sized underdeveloped country in Asia, Africa or Latin America declaring Bitcoin a legal tender.
I have the feeling that this "analysis" is more like a marketing move. Some Bitcoiners might see that Standard Chartered is totally bullish on Bitcoin(which means that Standard Chartered might be pro-Bitcoin) so they might start using this bank, because they think it supports crypto.
That's a sneaky marketing move(if it's actually true).

I feel like all these analysts don't have their own ideas but copy the ideas of bigger and more influential institutions like BlackRock. Have you noticed that many of these analysts changed their mind about bitcoin right after the BlackRock announcement? They're like wolves following the alpha.

I'm sure bitcoin will eventually go to 120k just because of its halving cycles. If it doesn't get there by 2025, it will do it in the next 4 years. With valuable asset like this, adding scarcity to the mix will fuel rallies, that's a fact. The only thing we can't predict is how strong these rallies will be and how far they'll manage to take us.

[Falconer]

-snip-

I feel like all these analysts don't have their own ideas but copy the ideas of bigger and more influential institutions like BlackRock. Have you noticed that many of these analysts changed their mind about bitcoin right after the BlackRock announcement? They're like wolves following the alpha.

I'm sure bitcoin will eventually go to 120k just because of its halving cycles. If it doesn't get there by 2025, it will do it in the next 4 years. With valuable asset like this, adding scarcity to the mix will fuel rallies, that's a fact. The only thing we can't predict is how strong these rallies will be and how far they'll manage to take us.

Large corporations and institutions have had an impact on bitcoin's price movements after briefly falling last year. A good plan and a great push from them has made the bitcoin price recover and managed to break through the $31k resistance in the end, but we shouldn't focus too much on their analysis regardless of the possibility to be right.

In the end I agree that the halving can push bitcoin price through its new ATH. The previous halving cycles would be a good guideline for analyzing how far the bitcoin price will fly after the 2024 halving, but I hope the cycle actually repeats like the previous halvings.

[Odusko]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

Can you share a link to the source of the information you posted, because in my country I operate an account with a standard chartered bank, and since our financial institutions don't support Bitcoin crypto transactions because of Central bank limits placed on bank-bitcoin transactions?

So having such information and speculation about bitcoin prices coming from a centralized bank like a standard chartered bank is something that sounds so contradicting to the reality on the ground and I will like to read such a statement myself.

[milewilda]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN. Maybe the analysts at Standard Chartered have some secret insider information about big institutional investors entering the Bitcoin market by the end of 2024. Or maybe they have insider information about some middle sized underdeveloped country in Asia, Africa or Latin America declaring Bitcoin a legal tender.
I have the feeling that this "analysis" is more like a marketing move. Some Bitcoiners might see that Standard Chartered is totally bullish on Bitcoin(which means that Standard Chartered might be pro-Bitcoin) so they might start using this bank, because they think it supports crypto.
That's a sneaky marketing move(if it's actually true).

I feel like all these analysts don't have their own ideas but copy the ideas of bigger and more influential institutions like BlackRock. Have you noticed that many of these analysts changed their mind about bitcoin right after the BlackRock announcement? They're like wolves following the alpha.

I'm sure bitcoin will eventually go to 120k just because of its halving cycles. If it doesn't get there by 2025, it will do it in the next 4 years. With valuable asset like this, adding scarcity to the mix will fuel rallies, that's a fact. The only thing we can't predict is how strong these rallies will be and how far they'll manage to take us.

What would you expect? It would be always something like this on which if these institutions would really be making out their calls and neither being bullish or bearish then expect that there would really be those band wagon who would really be telling on the same thing. Now that they do make out such  approach on having those 120k price or even millions? expect that they would really be saying on the same thing but these institutions would of course having those hidden intent when it comes to those kind of calls because usually they would really be trying out to hype things which its never been new. This is why it would really be wise when making up decisions and never ever make yourself do easily believe when it comes to fundamentals because we know that there would really be those hidden intents on which it would might happen in the
market earlier.They are just trying out to sweeten things up and do really good to hear out but ending up on making some profit taking and making on the same process all over again.
Its never been a new game into these institutions which they are really that deceptive all of the time for their own benefit.

[KingsDen]

I understand your both insinuations over here not to be overconfident or too way forward with the bitcoin market price over the next year Halving coming, sure you're both right to an extent but the little observation and addition to that is in knowing what exactly we are dealing with, bitcoin is unlike altcoins whereby we cant predict the outcome from the price, it's not what we just take from people or developers, bitcoin price is determined by its market demands and supplies, there's also one thing I will quickly like to cheap in here which is consistency about bitcoin, every four years there will always be halving which bullrun follows this event, which means definitely there will be bullrun and he market price will surge, but never forget that this also marks a period of higher market price volatility whereby while some are winning some may be loosing as well.

I appreciate the addition to the above conversation.
It is understandable that bitcoin is not like other cryptocurrencies whose prices could slump and never rise again, and it is also understandable that no matter how confident we are about bitcoin. It is still a cryptocurrency whose price is volatile. This means that it is not a stable coin.

Literally no one loses in Bitcoin if they do not sell. But then if anyone needs his bitcoin at a particular time that the prices is at the bear level, they have automatically lost because they will be unable to use the Bitcoin at that time unless they sell at loss.

Concerning the Bitcoin 4 years cycle, which is accompanied by a bull run. After this coming bullrun, we will notice that the effect of halving on bitcoin price will be reducing just as miners rewards keep reducing.

[Lucius]

Literally no one loses in Bitcoin if they do not sell. But then if anyone needs his bitcoin at a particular time that the prices is at the bear level, they have automatically lost because they will be unable to use the Bitcoin at that time unless they sell at loss.

The same can be said for other investments - you do not lose anything if you buy a share for $100, and it is worth only $80 in x days - you have an unrealized loss, but in x days the same share can be worth $120. All those who invested in BTC above $30k are technically still in loss and who knows how long this situation will not change, but if they have strong hands, in the future they could recover their investment and probably make a profit.

Concerning the Bitcoin 4 years cycle, which is accompanied by a bull run. After this coming bullrun, we will notice that the effect of halving on bitcoin price will be reducing just as miners rewards keep reducing.

This is one of the theories, but I think that halving will have similar psychological effects in the future, at least for 2-3 more future halvings. After we reach 99% of all mined BTC (between 2030 -2032), the interest in mining will probably decrease and the halving effects will no longer play a role - the 1% BTC that will remain will be something that will be mined for the next 100+ years.

[Marykeller]

The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.

Can you share a link to the source of the information you posted, because in my country I operate an account with a standard chartered bank, and since our financial institutions don't support Bitcoin crypto transactions because of Central bank limits placed on bank-bitcoin transactions?

So having such information and speculation about bitcoin prices coming from a centralized bank like a standard chartered bank is something that sounds so contradicting to the reality on the ground and I will like to read such a statement myself.

since the original poster (OP) failed to give us a link to the source of the information he shared on the forum regarding Standard Chartered Bank's forecast for bitcoin. You can read it here

If Nigerian banks don't support bitcoin transactions for their citizens that doesn't mean other country's banks will do the same. Similar to how the Central Bank of Nigeria oversees its domestic banks about bitcoin, Standard Chartered Bank operates in other nations with no restrictions on what they may or may not support.

On the other hand, Standard Chartered Bank is unrestricted in its ability to discuss and forecast bitcoin prices in other nations.

[btc_angela]

Did anyone from this Standard Chartered bank said HOW Bitcoin will rise to 100-120K USD, instead of WHEN?
To me, the most important question is HOW, not WHEN. Maybe the analysts at Standard Chartered have some secret insider information about big institutional investors entering the Bitcoin market by the end of 2024. Or maybe they have insider information about some middle sized underdeveloped country in Asia, Africa or Latin America declaring Bitcoin a legal tender.
I have the feeling that this "analysis" is more like a marketing move. Some Bitcoiners might see that Standard Chartered is totally bullish on Bitcoin(which means that Standard Chartered might be pro-Bitcoin) so they might start using this bank, because they think it supports crypto.
That's a sneaky marketing move(if it's actually true).

I feel like all these analysts don't have their own ideas but copy the ideas of bigger and more influential institutions like BlackRock. Have you noticed that many of these analysts changed their mind about bitcoin right after the BlackRock announcement? They're like wolves following the alpha.

Or it is just that they have like a price that they are looking, around $100k-$150k will be the safe prediction for this institutions like SC and other banks for that matter. But for us ordinary investors, yeah, it's possible that it could be hit in the next bull run.

I'm sure bitcoin will eventually go to 120k just because of its halving cycles. If it doesn't get there by 2025, it will do it in the next 4 years. With valuable asset like this, adding scarcity to the mix will fuel rallies, that's a fact. The only thing we can't predict is how strong these rallies will be and how far they'll manage to take us.

It's the fundamentals that hold bitcoin different from any other crypto, we have the cycles and then it haven't break it for the last 3 halvings that we have. Like every 4 years we are going to see a eventual bull run after halving and it will run at least a year. So we should expect that by 2025, we will hit a new all time high and it could really be in the six digit figures.

[STT]

For those that don’t know. But Standard Chartered had a prediction in Dec 22 right after the FTX implosion that Bitcoin will hit $5000. Pretty much made this prediction right at the bottom.

Its not just Bitcoin or this particular bank, investment banks often make estimates based off current trends and sentiment.   I dont mind them extrapolating but they need to add something to the consideration or the whole repetition of discussion by even experienced market players becomes like an echo box.  Its not useful data, Standard Chartered is a developing country bank with a century of experience so their placement in both the West and across asia could be useful to give feedback on the progression of BTC in those economies.    I cant assume they are doing their homework unfortunately unless they do give some serious data on why they have come to their conclusion its best not to focus too much on 'estimates'.

This is why I prefer charts, basically less noise and interference from present timeline when estimating further out.   Restriction of supply seems to be the main reasoning stated, the demand situation would have been more useful to assess as its altering every day where as we know for sure supply is less next year thats not privileged information.   They are just harvesting views stating a common news story in their own name seems like.

[tygeade]

I appreciate the addition to the above conversation.
It is understandable that bitcoin is not like other cryptocurrencies whose prices could slump and never rise again, and it is also understandable that no matter how confident we are about bitcoin. It is still a cryptocurrency whose price is volatile. This means that it is not a stable coin.

Literally no one loses in Bitcoin if they do not sell. But then if anyone needs his bitcoin at a particular time that the prices is at the bear level, they have automatically lost because they will be unable to use the Bitcoin at that time unless they sell at loss.

Concerning the Bitcoin 4 years cycle, which is accompanied by a bull run. After this coming bullrun, we will notice that the effect of halving on bitcoin price will be reducing just as miners rewards keep reducing.

No one loses if they do not sell the part we should highlight very much so. Because that means bitcoin will go up eventually even if it falls and not many people realize that. I understand that people could sell because they think it will go down and they can rebuy it when it's down, but the ones who sell because they are afraid it will go down and then not buy it at the dip do not make sense to me.

Making a calculated prediction is not that bad, it would work for you in the end as well and it could even profit you, but that is the only logical reason you should be selling, otherwise you are not going to make any profit at all. I hope that it gets to a point where we are going to make some money but it will take some time for sure.

[DeathAngel]

It is possible for BTC to reach millions of dollars per coin but it is highly unlikely in the short to mid term. BTC’s value is determined by supply and demand dynamics & such a tremendous increase in value would require an enormous shift in the global financial system. Regulatory challenges, market volatility & competition from other cryptocurrencies pose significant barriers to such a drastic price surge. While BTC has shown remarkable growth since its inception a more conservative prediction of its future value would be more reasonable.

[South Park]

I appreciate the addition to the above conversation.
It is understandable that bitcoin is not like other cryptocurrencies whose prices could slump and never rise again, and it is also understandable that no matter how confident we are about bitcoin. It is still a cryptocurrency whose price is volatile. This means that it is not a stable coin.

Literally no one loses in Bitcoin if they do not sell. But then if anyone needs his bitcoin at a particular time that the prices is at the bear level, they have automatically lost because they will be unable to use the Bitcoin at that time unless they sell at loss.

Concerning the Bitcoin 4 years cycle, which is accompanied by a bull run. After this coming bullrun, we will notice that the effect of halving on bitcoin price will be reducing just as miners rewards keep reducing.

No one loses if they do not sell the part we should highlight very much so. Because that means bitcoin will go up eventually even if it falls and not many people realize that. I understand that people could sell because they think it will go down and they can rebuy it when it's down, but the ones who sell because they are afraid it will go down and then not buy it at the dip do not make sense to me.

Making a calculated prediction is not that bad, it would work for you in the end as well and it could even profit you, but that is the only logical reason you should be selling, otherwise you are not going to make any profit at all. I hope that it gets to a point where we are going to make some money but it will take some time for sure.

It is easy to the think that those people are selling in order to find a better entry point but that is too naive, anyone selling for a massive loss despite what they say will most likely never buy bitcoin again, as even if their prediction became correct and the price went down and they had the opportunity to buy bitcoin for a cheaper price and get more of it than what they could get otherwise, they will refuse to buy because now they will become victims of FUD and they will be profoundly afraid of buying as they will fear for the price to keep its downward direction and then be trapped on their former predicament once again.

[Lanatsa]

I appreciate the addition to the above conversation.
It is understandable that bitcoin is not like other cryptocurrencies whose prices could slump and never rise again, and it is also understandable that no matter how confident we are about bitcoin. It is still a cryptocurrency whose price is volatile. This means that it is not a stable coin.

Literally no one loses in Bitcoin if they do not sell. But then if anyone needs his bitcoin at a particular time that the prices is at the bear level, they have automatically lost because they will be unable to use the Bitcoin at that time unless they sell at loss.

Concerning the Bitcoin 4 years cycle, which is accompanied by a bull run. After this coming bullrun, we will notice that the effect of halving on bitcoin price will be reducing just as miners rewards keep reducing.

No one loses if they do not sell the part we should highlight very much so. Because that means bitcoin will go up eventually even if it falls and not many people realize that. I understand that people could sell because they think it will go down and they can rebuy it when it's down, but the ones who sell because they are afraid it will go down and then not buy it at the dip do not make sense to me.

Making a calculated prediction is not that bad, it would work for you in the end as well and it could even profit you, but that is the only logical reason you should be selling, otherwise you are not going to make any profit at all. I hope that it gets to a point where we are going to make some money but it will take some time for sure.

It is easy to the think that those people are selling in order to find a better entry point but that is too naive, anyone selling for a massive loss despite what they say will most likely never buy bitcoin again, as even if their prediction became correct and the price went down and they had the opportunity to buy bitcoin for a cheaper price and get more of it than what they could get otherwise, they will refuse to buy because now they will become victims of FUD and they will be profoundly afraid of buying as they will fear for the price to keep its downward direction and then be trapped on their former predicament once again.

No matter what market conditions you would be facing out, never ever make yourself making such step on selling on loss because its never been that something worth on doing so. You are just basically messing up your trading career. In speaking about Bitcoins price and potential then it could potentially be able to hit up millions but that would be only on the time that 100% of the entire population would be able to make use and recognize Bitcoins existence.
Just like the rest of people been saying that it would be better that we should really be having this kind of realistic approach when it comes to price on which predicting or assuming about 1M is never been that something a simple number that could be reached out on a particular time or years but i do agree into the point that it does really have that kind of potential value but since there's no way on predicting
the future then it wont really be shocking that you would really be having that kind of speculations which it would really be leading into those digits which arent that realistic anymore.

For these institutions who do have those kind of predictions then we cant blame them and since this is a free market, then anyone or everyone could really be having their price predictions.
which would be no matter what the number would be.