Standard Chartered's Geoffrey Kendrick predicts Bitcoin could reach $100,000 by the end of 2024, but the cryptocurrency's path depends heavily on US Treasury yields and the outcome of the presidential election.
For much of the past year, Standard Chartered 's Geoffrey Kendrick has had a nice, round number in mind for his 2024 year-end price target after somewhat accurately predicting in late 2022 that Bitcoin could tumble as low as $5000 in the aftermath of the FTX collapse, Kendrick flipped in mid-2023 at which point - and ever since - he has argued that due to the 'seismic changes in the institutional approach to Bitcoin in the United States', the cryptocurrency would hit all time highs...
Interestingly, in recent weeks the UST movements have started to improve for BTC direction or have at least started to go sideways whereas BTC prices have been weak, which suggests that there is something else holding back the prices.
Cryptocurrency Standard Chartered Geoffrey Kendrick Price Prediction $100K US Politics Treasury Yields 2024 Election
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