I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin.

Looks like Standard Chartered banks is just trying to get in on the Bitcoin bashing we have seen over the last few weeks. The FTX disaster dealt a big blow to the crypto community and resulted in a loss of confidence in the crypto markets. It's going to take weeks for the bitcoin price to recover again. But as long as we are in the 16-17k USD range I would not worry about any such bad news from banks. It's clear that banks feel threatened from bitcoins because they will take away a large part of their business. Dealing in multiple currency is a lucrative business for banks as they can collect a lot of fees when buying and selling the same currencies over and over again. Before cryptos the consumer had no real alternative, we could only consider switching to a different who would charge is the exact same fees. Now with cryptos we can finally be independent of banks and that is was making them afraid. When it comes to forecasting the bitcoin price I would not be trusting any bank, they have their own agenda.