The forecasts of Bitcoin towards $100,000 for 2024

According to the forecasts of Standard Chartered Bank, Bitcoin could reach $100,000 by the end of 2024. This projection represents an ambitious milestone for the cryptocurrency market, but it is supported by a series of economic and technological factors that seem to favor sustained growth of the leading digital asset.

The current price of Bitcoin and Standard Chartered’s forecast for 2024

At the moment, the price of Bitcoin stands at 97,069.52 USD, approaching levels never seen before. This value reflects a growing confidence from institutional and retail investors, also driven by global events and the increasing adoption of cryptocurrencies.

The forecast of Standard Chartered is based on several key factors:

1. Growth of institutional demand
   The interest from financial institutions is increasing rapidly. Companies like BlackRock and Fidelity are working to offer investment tools based on Bitcoin, making access to the market easier.
2. Bitcoin Halving of 2024
   The halving, scheduled for April 2024, will reduce the reward for Bitcoin mining from 6.25 BTC to 3.125 BTC per block. Historically, this event has always had a positive impact on the price, reducing the available supply and creating upward pressure on prices.
3. Inflation and safe haven
   With global economic uncertainty and fears related to inflation, Bitcoin is increasingly seen as a store of value, similar to gold. Investors are looking for assets that can protect their capital against the devaluation of fiat currencies.

Despite the optimism, there are also risks. Market volatility remains high, and stricter regulations in various countries could hinder the growth of the sector. However, the adoption trend seems poised to overcome these obstacles, with governments and companies increasingly approaching criptovalute.

Bitcoin towards $820 billion market cap?

If the price of Bitcoin were to reach $100,000, its market capitalization would exceed $820 billion, further consolidating its position as a benchmark digital asset. This milestone would represent a significant step towards greater legitimization of cryptocurrencies in the global financial landscape.

An additional factor that could push Bitcoin towards the $100,000 threshold in 2024 is the evolution of blockchain technology, which represents the beating heart of the Bitcoin system. 

More and more companies and governments are adopting blockchain-based solutions to improve transparency, reduce costs, and increase efficiency in the financial, logistics, and healthcare sectors. 

This growing confidence in technology is indirectly reflected in the demand for Bitcoin, considered the most established and secure blockchain project in the world. Furthermore, the maximum limit of 21 million BTC makes Bitcoin a unique asset, defined by a programmed scarcity that distinguishes it from traditional currencies. 

This aspect makes it particularly attractive in a context of global inflation and economic uncertainty. With the expansion of the blockchain ecosystem, Bitcoin consolidates as the digital “gold standard,” fueling an optimism that could drive the market towards new all-time highs in 2024.

Conclusion: a historical opportunity?

The forecasts of Standard Chartered Bank, which see Bitcoin reaching $100,000 by the end of 2024, represent a turning point for both institutional and retail investors.

 This projection is not based solely on speculative expectations, but on solid fundamentals that are transforming the global economic landscape. Factors such as the halving, the increase in institutional interest, and the growing adoption of blockchain suggest that 2024 could be a decisive year for consolidating the legitimacy of cryptocurrencies as an asset class.

However, it is important to remember that the cryptocurrency market remains characterized by high volatility and regulatory uncertainty. Any changes to regulations in major markets, such as the United States or the European Union, could have a significant impact on the price of Bitcoin. 

Investors must therefore be ready to navigate between opportunities and risks, considering long-term strategies that take into account macroeconomic dynamics.