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

[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