New Price Target for Bitcoin from Standard Chartered: $150,000

Banking giant Standard Chartered announced that it increased its target price for Bitcoin ($BTC ) to $150,000. The company expects this target to be achieved in 2024.

Market Situation and Bitcoin's Rise

The cryptocurrency market continues its recent bull trend. Bitcoin is trying to recover after the fluctuations experienced in recent days. It is currently hovering around $64,000.

Standard Chartered's Previous and Current Forecasts

Standard Chartered had previously predicted a price of $100,000 for Bitcoin. However, the company updated this forecast and predicted that Bitcoin could reach six-digit figures in 2024.

Impact of Spot Bitcoin ETFs

Behind this increase in Standard Chartered's price forecast lies large investments in spot Bitcoin ETFs recently launched in the US. The banking giant states that investments in these ETFs continue and the price of Bitcoin is thus positively affected.

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