Analysts predict strong growth in Bitcoin.
11 Jul 2023, 15:57
Analysts predict strong growth in Bitcoin
Analysts at Standart Chartered bank suggest that the price of bitcoin could rise to $50,000 this year and then reach $120,000 by the end of next year. They believe this is because bitcoin's balance sheet has reached levels that it has in previous cycles. Reuters writes that.
"Increased miner profitability per BTC mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Geoff Kendrick, an analyst, said in a report.
In an April forecast, Standart Chartered experts predicted that bitcoin would reach $100,000 by the end of 2024. At the moment, the price of BTC is at around $30500.
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