What's in a price prediction? Standard Chartered swaps $5,000 for $50,000 when it comes to BTC in 2023.
Bitcoin is in line to hit $50,000 this year and crack all-time highs in 2024, says Standard Chartered.by media outlets including Reuters on July 10, the banking giant went on record to announce a BTC price recovery.in the institutional approach to Bitcoin in the United States, the mainstream narrative around the largest cryptocurrency is shifting rapidly., now believes that it will end the year ten times higher.
BTC/USD should reach $50,000 in 2023, the report from Global Head of Research & Chief Strategist, Geoff Kendrick, forecast.The reason, Kendrick believes, lies in supply dynamics. As miners dedicate more and more resources to preserving the network, they are also selling less BTC, creating a supply and demand imbalance which will tip in bulls’ favor.
"Increased miner profitability per BTC mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," the report states.in a Series A funding round in April.A major bank predicting a rosy future for BTC prices is just one instance of what an analyst
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