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$800 billion bank doubles down on record bitcoin price projection for 2024
Standard Chartered’s head of digital assets projects that $100 billion flows into ETFs will drive a six-figure bitcoin price record in 2024.
A researcher with British multinational bank Standard Chartered, which manages more than $800 billion in assets, has “doubled down” on a $150,000 bitcoin price prediction for the end of 2024, despite the asset seeing a retreat from its all-time high of $73,790 hit in March.
“There’s widespread caution that, after the bitcoin halving … there’s usually a retracement and some boring price action,” crypto analyst Scott Melker noted in the video above. “But that’s not stopping Geoff Kendrick, the head of digital assets research at Standard Chartered, from saying we’ll get $150,000 bitcoin by the end of the year.”
“We generally see parabolic price action in the fall, four to six months after the halving,” Melker said. “But more importantly, he’s looking at the inflows of bitcoin spot ETFs (exchange-traded funds) and comparing them to the inflows of gold ETFs in the U.S. in 2004.”
