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

[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.