Analyst forecast: Bitcoin course could increase to $ 120,000 by the end of 2024

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Der Bitcoin hat Ende Juni die 30.000-Dollar-Marke überschritten und befindet sich derzeit in einer Seitwärtsbewegung. Analyst Geoff Kendrick von der britischen Bank Standard Chartered ist jedoch der Meinung, dass der Bitcoin am Anfang eines neuen Bullenmarkts steht. In einer aktuellen Studie hat er das Kursziel bis Ende 2024 auf satte 120.000 Dollar erhöht. Das bedeutet ein Kurspotenzial von gut 300 Prozent und neue Höchststände für die Digitalwährung. Dabei basiert diese optimistische Prognose nicht nur auf der Hoffnung auf neue Impulse durch eine mögliche Zulassung von Spot-ETFs auf den Bitcoin in den USA, die seit Ende Juni für steigende Kurse gesorgt …
Bitcoin exceeded the $ 30,000 mark at the end of June and is currently in a sideways movement. Analyst Geoff Kendrick from British Bank Standard Chartered, however, believes that the Bitcoin is at the beginning of a new bull market. In a current study, he increased the price target to a whopping $ 120,000 by the end of 2024. This means a price potential of a good 300 percent and new highs for digital currency. This optimistic forecast is not only based on the hope of new impulses by a possible approval of spot ETFs to the Bitcoin in the USA, which has been increasing courses since the end of June ... (Symbolbild/KNAT)

The Bitcoin exceeded the $ 30,000 mark at the end of June and is currently in a sideways movement. Analyst Geoff Kendrick from British Bank Standard Chartered, however, believes that the Bitcoin is at the beginning of a new bull market. In a current study, he increased the price target to a whopping $ 120,000 by the end of 2024. This means a price potential of a good 300 percent and new highs for digital currency. This optimistic forecast is not only based on the hope of new impulses by a possible approval of spot ETFs to the Bitcoin in the USA, which have ensured increasing courses since the end of June.

Instead, Kendrick identified another potential spa driver. However, which this is exactly remains unclear, since further information can be found in a Paywall-protected area of ​​the website. To get this information, you have to be a subscriber of the shareholder magazine. To what extent this additional information could influence the Bitcoin course remains speculation for the time being.

Nevertheless, the assessment of Kendrick is interesting, since with his prediction of $ 120,000 for Bitcoin it is one of the more optimistic analysts by the end of 2024. Other experts will see the Bitcoin in the near future in a phase of consolidation and do not expect rapid rising courses.

So it remains exciting how the Bitcoin course will develop in the coming months. The future will show whether the Bitcoin can actually reach new highs and the price target of $ 120,000 is realistic. A US approval of spot ETFs on Bitcoin could certainly provide new impulses, but there may be other factors that could drive the Bitcoin course. It is therefore worthwhile for investors and interested parties to keep an eye on the developments in the cryptom market and the assessments of the analysts.