Bitcoin, the most popular cryptocurrency, may hit $100,000 by the end of 2024, according to Standard Chartered, which also said that the so-called “crypto winter” is ended.

According to Standard Chartered’s head of digital assets research, Geoff Kendrick, Bitcoin might benefit from recent upheaval in the banking industry, a stabilization of risk assets as the U.S. Federal Reserve concludes its rate-hike cycle, and increased profitability of crypto mining.

While there are still some unknowns, Kendrick stated, “we believe the path to the USD 100,000 level is becoming clearer.”

Bitcoin, the most popular cryptocurrency, may hit $100,000 by the end of 2024, according to Standard Chartered, which also said that the so-called “crypto winter” is ended.

According to Standard Chartered’s head of digital assets research, Geoff Kendrick, Bitcoin might benefit from recent upheaval in the banking industry, a stabilization of risk assets as the U.S. Federal Reserve concludes its rate-hike cycle, and increased profitability of crypto mining.

While there are still some unknowns, Kendrick stated, “we believe the path to the USD 100,000 level is becoming clearer.”