Standard Chartered Bank, a multinational bank with a market capitalization of US$820 billion, has increased its price forecast for #BTC by the end of 2024 to US$120,000.

Their goal is to reach $50,000 $BTC by the end of the year.

Their reasoning is that “miners’ increased profitability per $BTC mined (due to higher prices) means they can sell less while maintaining cash inflows, reducing the net supply of BTC and pushing up the price of BTC.”