The price of digital currency Bitcoin has started to rise again. In this reality, multinational bank Standard Chartered thinks that the price of Bitcoin may rise to 50 thousand dollars this year. Even in the latter half of 2024, the price of this currency can reach 120000 dollars. According to the news agency Reuters, investors may be more attracted to it as the price of Bitcoin is increasing recently. Earlier in April, Standard Chartered said, at the end of 2024, the price of Bitcoin, a virtual currency, could rise to 100,000 dollars. Then they said that the 'winter' of cryptocurrency is about to end. But now the bank's foreign exchange analyst Jeff Kendrick said that the price of Bitcoin may increase by 20 percent to 120,000 dollars.
It is better to ignore those predictions because no one really knows what is going to happen during the next years, they may serve as a way to measure the expectations other people and institutions have of this market, but at the end bitcoin will move according to the demand there is at the time, and if the demand is high then many of our predictions will fall short, while if the demand is low then we may have problems reaching even some of the most conservative predictions we see out there.