Bitcoin could hit $100,000 by the end of 2024 - Standard Chartered - Surprised? - page 5.

wxa7115

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Quote from: JoyMarsha on April 26, 2023, 05:32:56 PM

Regardless of how you look at it, anyone who predicts something that hasn't happened yet is considered to be speculating.
This is still one of the articles I've been reading for a while that predicts that bitcoin will reach $100k soon enough, but it won't happen as predicted.
$100k bitcoin will be possible someday (not this year I think) maybe probably during the bull run. Not certain anyway
The best and only thing we can do is to keep buying Bitcoin in the hopes that it will reach another all-time high by next year.

We know that 100k is almost a certainty as there is no way bitcoin cannot reach that price when so much money was printed out of thin air and the economy is probably not going to do well during the next years.

However the question is when this could happen? And while there are an enormous amount of theories about when this could take place, such information is only important if you are a trader trying to obtain fast profits, if you are an investor it does not really matter exactly when that happens, the only thing that matters is that you have a lot of bitcoin once it does.

lionheart78

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Quote from: avikz on April 25, 2023, 12:24:50 AM

We have read many similar predictions by many market analysts and so-called Bitcoin enthusiasts about the bright future of Bitcoin. This is not surprising and this post is not a speculation post. What is surprising is that such kind of optimistic predictions is coming from one of the banking majors. The current banking turmoil has helped Bitcoin to win the trust of the people.

Read here: https://www.reuters.com/technology/bitcoin-could-hit-100000-by-end-2024-standard-chartered-says-2023-04-24/

Not all battles are fought on the battleground. Some are fought silently and patiently and time decides the winner. We are surely on the winning path!

Thoughts?

It is not surprising to see people who are too optimistic in giving their predictions. Actually this prediction is somehow reserved, others even stated that Bitcoin will reach $1m in 90 days others predicts Bitcoin will be in $500k and many more.

Quote from: el kaka22 on April 26, 2023, 01:24:51 PM

I honestly think that it is a true assessment as well, it looks like that could be true. I am not saying that this will happen, but it is definitely a good possibility as well. There are some guesses and predictions that are unrealistic, like some say it will be a million dollars in 2023 for example, and that is too much, I do not think that it would happen, but this one is not like that.

This one is 2024 and not like start, it says end of 2024 as well, so we have like 19-20 months left for that as well, so that means we could reach 100k, which is only 3x in the next 1.5+ years, and that could happen. There is also halving as well so I think that could potentially happen as well, I do not think that it would be that wrong. Hopefully we will see it do a lot better and could reach even above that, but 100k sounds reasonable.

I agree since the prediction is stated in an event where the market is possibly already in a bull run. the halving event is done, the Bitcoin block reward is halved, and the market trend is possibly on its way to breaking the ATH so I also think that the prediction have some weight on it. Still, it is considered speculation because there is still no solid ground for that price to happen.

JoyMarsha

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Regardless of how you look at it, anyone who predicts something that hasn't happened yet is considered to be speculating.
This is still one of the articles I've been reading for a while that predicts that bitcoin will reach $100k soon enough, but it won't happen as predicted.
$100k bitcoin will be possible someday (not this year I think) maybe probably during the bull run. Not certain anyway
The best and only thing we can do is to keep buying Bitcoin in the hopes that it will reach another all-time high by next year.

dunfida

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Quote from: avikz on April 25, 2023, 12:24:50 AM

We have read many similar predictions by many market analysts and so-called Bitcoin enthusiasts about the bright future of Bitcoin. This is not surprising and this post is not a speculation post. What is surprising is that such kind of optimistic predictions is coming from one of the banking majors. The current banking turmoil has helped Bitcoin to win the trust of the people.

Read here: https://www.reuters.com/technology/bitcoin-could-hit-100000-by-end-2024-standard-chartered-says-2023-04-24/

Not all battles are fought on the battleground. Some are fought silently and patiently and time decides the winner. We are surely on the winning path!

Thoughts?

We are really bound into this path on which even though it might really be happening that too fast but surely we would really be heading there.We've seen on how Bitcoin or crypto space do really able to get that recognition despite of all the negatives that circles around. It is really just whenever we do read up some price prediction and approach and saying off with some dates then its better not to take it seriously.
Instead its better to make decisions on your own and would really be still following your own call and analysis but its really good to see that they are already considering on how this market
do really get that consideration and recognition.

2024 is a considerable date since we are really that on post-halving state on that time, we know that bull run could happen whichever with those months and if we do base up in history then it could
really be that happening on that time too. We should also bare up into our minds that 100k isnt really just the finishing point or roof that we do might able to break and we might
be seeing more higher number but of course dont raise up your hopes that much because not anything in our mind and belief could really happen.

el kaka22

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I honestly think that it is a true assessment as well, it looks like that could be true. I am not saying that this will happen, but it is definitely a good possibility as well. There are some guesses and predictions that are unrealistic, like some say it will be a million dollars in 2023 for example, and that is too much, I do not think that it would happen, but this one is not like that.

This one is 2024 and not like start, it says end of 2024 as well, so we have like 19-20 months left for that as well, so that means we could reach 100k, which is only 3x in the next 1.5+ years, and that could happen. There is also halving as well so I think that could potentially happen as well, I do not think that it would be that wrong. Hopefully we will see it do a lot better and could reach even above that, but 100k sounds reasonable.

aioc

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How I wish, but the same article you posted also mentioned

https://www.reuters.com/technology/bitcoin-could-hit-100000-by-end-2024-standard-chartered-says-2023-04-24/

Quote

Predictions of sky-high valuations have been commonplace during bitcoin's past rallies. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 by the end of 2022. It closed last year down about 65% at $16,500.

I don't want to be in a delusional state to thinking that it will hit 6 digits in just a short period of time, I prefer a modest prediction, not one that thinks that it will skyrocket, although in the back of my mind, I wish it could happen but its better to spread FOMO than to spread FUD.

Yaunfitda

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I think everyone is on the same boat as far as bitcoin hitting that 6 digits in the future. We do failed that prediction though in 2021, when everyone thought that $100k will be the big price because some bitcoin price modelling made famous by someone.

Nevertheless, I will say that it is more doable in the next bull run than the previous. We've seen $69k as our last all time high. So the expectation is that we will surpassed in in 2024-2025 with a conservative estimates of $100k. So it's just a matter of time for us. And we should all be prepared and ready and stack sats already.

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Global conditions have prolonged Bitcoin's bearishness but gradually that situation has normalized. Investors' confidence has started to return again which has led to a major shift in market dynamics. Although no bullish movement was seen in the market, almost everyone knows that the market will be bullish in the future. While some predict 1 million about Bitcoin, there is a very reasonable prediction of $100k target which is very likely to happen. When someone high ranked officials in the financial sector is able to make such a prediction, it assure that it will happen. Moreover, Bitcoin started to become bullish a few days ago when there was a crisis of confidence in the US banking sector. As a result, it can be safely assumed that people's confidence in Bitcoin will continue to increase in the coming days and may reach new all-time high shortly.

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Quote from: hatshepsut93 on April 25, 2023, 04:55:37 PM

Quote from: avikz on April 25, 2023, 12:24:50 AM

What is surprising is that such kind of optimistic predictions is coming from one of the banking majors.

To me it's not surprising, there has always been bullish bankers, and not only bankers but economists, millionaires, big investors and so on. Bitcoin is not the enemy of banks, people are not abandoning banks for Bitcoin, those who use Bitcoin also keep using banks. Banks can even benefit from it by offering Bitcoin-related services, like custody or convertation.

$100k is around 50% higher than the peak of the last bull market, that would be a very modest result, considering that the previous cycle had the peak price grow by 3.5 times.

or maybe, some bankers are bullish because they are into this market, and they quite understand the potential of this market. they are also seeing positive as the adoption alone can give them hints where this market is heading to.
at any rate, anyone can speculate about the future of btc, but not everyone is doing their action to hold this coin for long-term purposes. so for me, it doesn't matter whether it will reach a new ATH or not, it is how the people are reacting on the current market to be prepared for what's imminent.

hatshepsut93

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Quote from: avikz on April 25, 2023, 12:24:50 AM

What is surprising is that such kind of optimistic predictions is coming from one of the banking majors.

To me it's not surprising, there has always been bullish bankers, and not only bankers but economists, millionaires, big investors and so on. Bitcoin is not the enemy of banks, people are not abandoning banks for Bitcoin, those who use Bitcoin also keep using banks. Banks can even benefit from it by offering Bitcoin-related services, like custody or convertation.

$100k is around 50% higher than the peak of the last bull market, that would be a very modest result, considering that the previous cycle had the peak price grow by 3.5 times.

Captain Corporate

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The best thing to do in this case is to just hope that they are right but have a backup plan in case they are wrong as well. I agree that it looks likely and its not really a shocker, but I feel like 2025 would be a lot better as well and shouldn't really be an unexpected price at that point neither. Obviously its not going to be simple, like we are not going to end up waking up one morning and it will be 100k or something like that. I think it is going to be a big bull run for that to happen and in order for that to happen it will take months of increases and small decreases in there as well and that's the issue. I feel like we are going to end up with something that is much bigger for a while, but that's not going to happen right away, it will take a while and should be alright in the end, whenever it happens.

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Quote

I think There is a tendency to use the adjective of "6 figures" is more viable to the reality of hit the 100k

.

The long term is without a doubt the best ally of bitcoin always, so setting 2024 as the goal of the mythical "6 figures" having the Halving behind a few months after it happened is undoubtedly a good sign. At least to get the base that you mention $100,000.

He created that 2025 is the year in which we will have the final destination to exceed the mythical figure of 6 figures.

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Quote from: Plaguedeath on April 25, 2023, 12:58:07 AM

Not surprised because the rumor of Bitcoin will reach $100K is nothing new and Standard Chartered bank headquartered is operated in London, so it's a part of United Kingdom where they're friendly with Bitcoin.

That said, the bank isn't a holder of bitcoin, so it can be called an impartial analysis, unlike the ones made by well known bitcoiners like Max Keiser, or bitcoin analysts like PlanB.
These predictions made by banks are taken more seriously by people from outside the bitcoin ecosystem and we could use some billionaires to become interested in this. I'm not saying they have to buy right now, but bitcoin isn't as popular as it could be because many people think it to be too complex and time consuming to learn, so they stick with what they know.

SC prediction is based on the last cycle and you can see it by the way they take into account a possibility of a sudden crash to 5k, which is based on analysing the 2019-2020 data model where we had this sudden drop to 3k. Black swan events like the covid crash aren't something that repeats periodically, so I wouldn't count on it.

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I don’t think we’re going to hit $100K this year. There are a lot of BTC hitting the market this year and then the halfining is next year. I think it’s much more likely that the market zooms passed $100K sometime after the halfining. Maybe the end of next year. I don’t think it will stop at $100K though. 2025 will likely bring us fireworks as the price goes beyond anyone’s rational predictions.

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Listen the only major factor that can affect the price of the Bitcoin is “demand”. The demand to acquire Bitcoins can only lead to high price of these Bitcoins. Bitcoins are limited in number that is, no more Bitcoins can be created or destroyed, hence the coins are very rare and valuable. So if the demand to accumulate these coins increases, due to the fixed amount of supply, the price will automatically go up. So 100k is surely possible before the end of 2024, I am predicting that Bitcoins will break ATH and will settle in 80k usd by the end of this year.

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$100,000 really isn’t that far fetched by the end of 2024. The halving is earlier in 2024 and we all know what happens a short while after that. Standard Chartered are a huge organisation, more and more big banks/corps are starting to open their eyes to the possibility that bitcoin will have a part to play in the future of finance. It totally makes sense for them to be open minded.

$100,000 is’t even a x 2 on the previous cycle high so it is very likely, if not in 2024 then definitely by the end of 2025.

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Quote from: mk4 on April 25, 2023, 01:37:21 AM

They keyword here is: could

bitcoin could hit $100,000
bitcoin could hit $10,000
bitcoin could hit $1,000,000
bitcoin could hit $100

Could just means that there's a (albeit non-zero) possibility — not necessarily that it will happen.

All these statement here are "possibility statement" which are not "True" and even if is true how certain are they by saying " ". Hence is a "biconditional statement" where the predictor or speculator are not yet fully convinced it will happen how they said but are still having thought or thinking it could be but not sure (false), it can only be true with the two results are said to be "T" (outcome).
As an investors I think they are only trying to be optimistic about the future of bitcoin.

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Quote from: avikz on April 25, 2023, 12:24:50 AM

What is surprising is that such kind of optimistic predictions is coming from one of the banking majors. The current banking turmoil has helped Bitcoin to win the trust of the people.

That bank means nothing to me, and I believe that 99% of the users of this forum have never heard of it - so I wonder who even cares what banks think, no matter what they are called? As for the trust you are talking about, it is far from the fact that it happened and it cannot happen overnight as some think, because trust is built over decades. This is the reason why 98% of people still trust banks more than Bitcoin.

Quote from: avikz on April 25, 2023, 12:24:50 AM

Not all battles are fought on the battleground. Some are fought silently and patiently and time decides the winner. We are surely on the winning path!

That makes more sense, but all those who live in some kind of belief that Bitcoin should (or can) beat the banks are not thinking rationally at all. Banks are the most powerful institutions in the world and if they really want to, they can do terrible damage to Bitcoin, because most people still use those same banks to buy/sell Bitcoin, regardless of whether it's CEX or DEX.

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Quote from: avikz on April 25, 2023, 12:24:50 AM

Not all battles are fought on the battleground. Some are fought silently and patiently and time decides the winner. We are surely on the winning path!

Thoughts?

Bitcoin revolution happens in silence mate and indeed you are correct , it may take long time but
in the end we will be in the winning line.
how much we can keep and how long we can wait? that is the only thing we need to answer and happen.
100k in 2024?or even in 2025?
not just to wait till 2030 before this happen because that is far from the cycle.

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Quote from: crwth on April 25, 2023, 02:03:38 AM

I found it amazing that major banking is also hyping Bitcoin and seeing that prediction makes me feel like I'm doing the right decision to obtain more and more of BTC. I hope that everyone would be able to go along and see the real value of BTC and increase the chances of reaching it earlier.

I'm curious as to "What changed?" or Why do the major banks predict this kind of thing?

Nothing. Nothing changed. People from certain banks or any financial service (or just people with some influence in general) just likes to flip flop their opinions on Bitcoin/crypto depending on their agenda or just because they want their names to appear on news sites.

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