Bitcoin Will Reach $120K Before 2025, Standard Chartered Predicts
Standard Chartered has raised its Bitcoin price forecast to $120,000 by the end of 2024, citing miners hoarding their coins and reducing the circulating supply as the main driver. The bank predicts that increased miner profitability will lead to a decrease in net BTC supply, pushing prices higher. Bitcoin has already seen an 82% increase this year, and the trend of coins moving from short-term holders to long-term holders indicates a bullish market.
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Bitcoin Will Reach $120K Before 2025, Standard Chartered Predicts
Standard Chartered has raised its Bitcoin price forecast to $120,000 by the end of 2024, citing miners hoarding their coins and reducing the circulating supply as the main driver. The bank predicts that increased miner profitability will lead to a decrease in net BTC supply, pushing prices higher. Bitcoin has already seen an 82% increase this year, and the trend of coins moving from short-term holders to long-term holders indicates a bullish market.