Forecast analysts: Bitcoin could reach the $ 120,000 brand at the end of 2024 - $ 50,000 could be possible at the end of this year

According to SBC analysts, Bitcoin could reach the $ 120,000 mark at the end of 2024. $ 50,000 could be achieved at the end of this year. The British major Bank states that the increased price could cause Bitcoin miners to launch less newly generated currency and store instead. This would reduce the offer and continue to increase the price. Geoff Kendrick, one of SBC's top analysts, explains that the crypto winter is over. The specialists see a lot of upward potential for this year, about 50 percent based on the current price of around $ 30,750. In April Kendrick had ...

12. Juli 2023

Krypto News Österreich

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According to SBC analysts,

Bitcoin could reach the $ 120,000 mark at the end of 2024. $ 50,000 could be achieved at the end of this year. The British major Bank states that the increased price could cause Bitcoin miners to launch less newly generated currency and store instead. This would reduce the offer and increase the price.

Geoff Kendrick, one of the top analysts from SBC, explains that the crypto winter is over. The specialists see a lot of upward potential for this year, about 50 percent based on the current price of around $ 30,750.

in April Kendrick still wrote that Bitcoin could increase to $ 100,000 by 2024. Now he confirms this price goal and also mentions a possible increase to $ 120,000, which corresponds to an increase of almost 300 percent compared to the current level. Kendrick also expects Bitcoin to increase by 67 percent to $ 50,000 this year.

The analyst assumes that the miners have sold 100 percent of all Bitcoins generated in the second quarter. However, he expects the miners to sell less Bitcoin over time. Historically, this is the case when the Bitcoin price exceeds the total costs of the mining, which is currently the case.

It should also be mentioned that investors can invest in Bitcoin via the online Best of Krypto Index. With a certificate, investors can invest in 10 large coins at the same time.

In conclusion, it should be pointed out that the chairman of the board and majority owner of the publisher Börsenmedien AG, Bernd Förtsch, has been received in the discussed financial instruments or derivative instruments that could benefit from course development. Börsenmedien AG has also developed an index and adheres to the rights. There is a cooperation agreement with the issuer of the securities shown, which gives Börsenmedien AG remuneration.