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.
Personally, my next market bitcoin target would be anywhere close to 100,000$ and not beyond this. I do not get excited when I see some big institutions claim bitcoin price to reach 250,000$ or 500,000$ or even more in a few months or 1 year time. These price predictions are hard o achieve unless we see a major shift in the world finical system or the government changes its stance from negative/neutral to positive on cryptocurrencies and bitcoin.
Rest these price analyses by big institutions often lead to market manipulation for the short term and nothing else.