| Real-time Crypto 01:06:21 17/07/2024 pm IST | 5-day change | 1st Jan Change | ||
| 60,241 EUR | +0.87% |
|
+11.33% | +55.48% |
| 16/07 | Top Cryptocurrencies Rise; Bitcoin Advances to $65,000 | MT |
| 16/07 | Sector Update: Financial Stocks Gain Late Afternoon | MT |
LONDON (Reuters) - Top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered said on Monday, predicting the jump in its price could encourage bitcoin 'miners' to hoard more of the supply.
Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call.
"Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report.
(Reporting by Marc Jones; Editing by Amanda Cooper)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 65,638 USD | +0.69% | +12.30% | - | ||
| 60,241 EUR | +0.87% | +11.33% | - | ||
| 726.5 GBX | +0.04% | +0.64% | 2.37TCr | ||
BITCOIN (BTC/EUR) 
