[2023-11-21] Optimistic Bitcoin Forecast: $120,000 by 2024 End

[CoinTürk]

Standard Chartered analyst Geoff Kendrick has updated his previous Bitcoin (BTC) price prediction, now forecasting that BTC could reach $120,000 by the end of 2024. This optimistic price update is based on analyses of miners' reduced sales and changes in profitability dynamics. Previously predicting a price of $100,000 for 2023, Kendrick now believes that considering the changes in miners' profitability, this figure is a more acceptable baseline.
Read the full article here: https://en.bitcoinhaber.net/optimistic-bitcoin-forecast-120000-by-2024-end-says-standard-chartered-analyst

[Kakmakr]

Ok, so he predicted $100 000 for 2023 and we are only at $37 000 now, with one month away from 2024. How does he expect people to take him seriously, if he thumb sucks price predictions like this?

Yes, it might reach those prices, if the SEC approve the spot ETF application from BlackRock and if the Halving hype will drive up enough media awareness to push up the demand for bitcoins, but that is still not guaranteed.

Let's just wait and see .....and hope for the best. 

[cr1776]

Anyone can make predictions and will do so when there is no accountability to getting it wrong.   The best prediction was made long ago:  bitcoin is either going to be worth a whole lot, or very little.  It certainly seems most likely to be on the "whole lot" side of things now vs when that was made in 2009-2011.