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$800 billion bank doubles down on record bitcoin price projection for 2024
Standard Charteredâs 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 âdoubled downâ 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.
âThereâs widespread caution that, after the bitcoin halving ⌠thereâs usually a retracement and some boring price action,â crypto analyst Scott Melker noted in the video above. âBut thatâs not stopping Geoff Kendrick, the head of digital assets research at Standard Chartered, from saying weâll get $150,000 bitcoin by the end of the year.â
âWe generally see parabolic price action in the fall, four to six months after the halving,â Melker said. âBut more importantly, heâs 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.â