Standard Chartered Bank Reiterates Bitcoin Price Forecast of $100,000 by End of 2024, Expects U.S. Spot ETF Approvals to Drive Upside

Standard Chartered Bank has reiterated its April prediction that Bitcoin will reach $100,000 by the end of 2024, stating that everything is going as expected. The bank's Geoff Kendrick and team believe that the approvals of several U.S.-based spot Bitcoin ETFs will be the next catalyst and are likely to come sooner than expected. They predict that a number of spot ETFs will be approved in Q1-2024 for both BTC and ETH, paving the way for institutional investment. The bank also noted that the next Bitcoin halving, expected to take place in late April 2024, will be another source of price upside.