• Standard Chartered issued a report that bitcoin could reach $100,000.
• BTC has recently hit a ten-month high of around $30K.
• Recent regulations implemented by the EU may contribute to the surging of bitcoin’s price.
Standard Chartered’s Report on Bitcoin Price
Standard Chartered recently issued a report claiming that the crypto winter of 2022 is officially over, and analysts foresee bitcoin reaching a whopping $100,000 per unit in the coming months. This would make a huge change from where the world’s number one digital currency by market cap was just six months ago, when it lost more than 70 percent of its value and the crypto world was in a tailspin of depression.
BTC Hits Ten-Month High
2023 has been a year of incredible turnaround for BTC, which has recently hit a ten-month high of about $30K. Geoff Kendrick – the head of digital assets research at Standard Chartered – explained in the report: “While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer.” He also believes that bitcoin is once again being viewed as a “relative store of value and a means of remittance,” especially during the aftermath of recent banking crises which have caused multiple collapses in banks within the U.S.
EU Regulations Impacting Crypto Arena
One factor that may contribute to this surge in price according to analysts is recent regulations imposed by the European Union (EU). The continent appears to be embracing crypto more so than ever before and this may have some positive implications on prices going forward as well as increased adoption rates across various industries and sectors. It appears Europe is looking at cryptocurrency as an opportunity rather than something they should fear or shy away from moving forward into 2023.
Crypto Winter Officially Over?
The overall sentiment appears to be that even though there are still plenty more healing days ahead for crypto assets like BTC, it looks like it will keep climbing higher and higher until it reaches those seemingly impossible six-figure levels that many thought could never be achieved back during its lowest points in late 2022. It seems that Standard Chartered believes with certainty now that crypto winter has passed and brighter days are here for digital currencies all around!
All signs point towards better times ahead for digital currencies such as bitcoin and others like Ethereum or Litecoin who have also seen significant growth since last year’s bearish trends took hold over global markets. With new regulations being put into place by leading financial institutions such as EU, combined with analyst predictions coming from notable organizations like Standard Chartered – it looks like these assets are on track towards achieving unimaginable heights come 2023/2024!