Standard Chartered predicts Bitcoin price increase to $ 120,000 in less than two years

Standard Chartered predicts Bitcoin price increase to $ 120,000 in less than two years

The Multinational Bank Standard Chartered has published an impressive Bitcoin forecast. The bank assumes that the Bitcoin price will increase to $ 120,000 in the next two years. By the end of 2023 it predicts a price of $ 50,000.

This forecast is based on the assessment that the current bear market for cryptocurrencies is over. The bank also expects rising Bitcoin prices to encourage the miners to store a larger part of their coins. This would reduce the range of Bitcoin and continue the price.

Bitcoin price development in 2023 is already impressive. The price has increased by an impressive 83% since the beginning of the year. The development of the Bitcoin Prize thus exceeds the growth of the NASDAQ Composite Index, which reflects the technology sector.

In addition, Bank Standard Chartered expects that the number of new Bitcoin wallets will increase again. Such an increase could trigger further price increases, as the crypto analyst Ali Martinez explains. He emphasizes that a continuous increase in new Bitcoin addresses often goes hand in hand with price increases.

Nevertheless, there are also analysts that warn of a possible correction of the Bitcoin price. Michael van de Poppe, a well -known analyst, expects Bitcoin to sink briefly to secure liquidity. He refers to the US consumer price index (CPI), which will be published in the next 48 hours and can act volatile on the cryptoma market.

How the Bitcoin Prize will develop in the coming years remains to be seen. However, the forecast of the Bank Standard Chartered is promising and could help to get more investors into the cryptom market. It remains exciting whether Bitcoin will really achieve the desired performance.