TL;DR
- Geoff Kendrick of Normal Chartered highlights three elements for Bitcoin’s potential surge to $100,000: rising total market cap of digital property, the April 2024 Bitcoin halving, and the anticipated launch of the primary US spot BTC ETF.
- Kendrick predicts Bitcoin’s peak would possibly happen 12-18 months post-halving, with early introduction of US spot ETFs probably pushing BTC to $100,000 earlier than end-2024.
- Outstanding figures like investor Robert Kiyosaki and Blockstream CEO Adam Again additionally forecast Bitcoin reaching $100,000, citing a weakening US greenback and bullish developments pre-halving.
What Might Drive BTC’s Attainable Surge?
Bitcoin’s spectacular worth spike all through 2023 has given many analysts the chance to invest whether or not the uptrend is about to proceed within the close to future. One one that shares that thesis is Geoff Kendrick, Normal Chartered’s head of FX analysis.
Based on him, there are three essential elements that may set off a worth explosion towards the coveted stage of $100,000 subsequent yr. The primary one is the potential rising dominance of Bitcoin over the choice cash:
“Going ahead, then, we anticipate digital property’ rising total market cap to be an even bigger driver of BTC worth upside than a continued rise in BTC dominance throughout the house.”
One other component that may play a job is the Bitcoin halving (scheduled for April 2024). Kendrick assumed that the valuation of the asset would possibly peak 12-18 months after the occasion.
Final however not least, he believes that the launch of the primary spot BTC ETF in America is simply across the nook and that it may additionally trigger a bull run for the asset:
“We now anticipate extra worth upside to materialize earlier than the halving than we beforehand did, particularly through the earlier-than-expected introduction of US spot ETFs. This means a threat that the USD 100,000 stage might be reached earlier than end-2024.”
Who Else Believes BTC Might Soar to $100K?
Quite a few outstanding figures have predicted through the years that Bitcoin would finally hit the $100,000 milestone.
One instance is Robert Kiyosaki – an American investor, motivational speaker, and creator of the guide “Wealthy Dad, Poor Dad.” Based on him, 2024 can be devastating for the US greenback, which may propel a worth explosion for BTC towards $120,000.
The British cryptographer and CEO of Blockstream – Adam Again – has additionally laid out a bullish forecast, envisioning the asset to achieve $100K earlier than the halving.
These curious to dive deeper into the matter and discover further BTC predictions coming from well-known people may check out our video beneath:
The submit Bitcoin (BTC) Worth to Hit $100K Subsequent Yr: This Banking Big Chips in appeared first on CryptoPotato.
