In their latest note, Standard Chartered's head of digital assets, Geoff Kendrick, says that Bitcoin could gain from recent developments in the market. That includes the banking turmoil and also the stabilisation of risk assets as the Fed draws nearer to the end of its tightening cycle.
"While sources of uncertainty remain, we think the pathway to the $100,000 level is becoming clearer." Adding that Bitcoin could hit that market by the end of next year.
Well, these outrageous calls have been quite a common theme when it comes to Bitcoin forecasts and this just adds to that long list. If you need a reminder, a Citi analyst had previously, during the pandemic, called for Bitcoin to hit above $300,000 by the end of last year. I mean, we did see it went on to hit a record high of $69,000 in November 2021 but during last year itself, Bitcoin fell by a whopping 64%. Go figure.
