Researchers Predict Bitcoin to Surpass US $100,000 Early Next Year

Thursday, 09-September-2021 20:00

illustration: bitcoin
Image : Investucate
illustration: bitcoin

LONDON, NETRALNEWS.COM - A team of new cryptocurrency researchers at Standard Chartered have predicted that the value of Bitcoin will double and reach $100,000 by early next year. They also said that Bitcoin could be worth as much as $175,000 in the long term.

The bank also said that it "structurally" values ​​Ethereum, the second most traded crypto asset, at US$26,000-35,000 although to reach that level Bitcoin would already be close to US$175,000.

"As a means of payment, Bitcoin could become the dominant peer-to-peer payment method for the unbanked global in the future cashless world," Standard Chartered's new crypto research unit led by Geoffrey Kendrick, who is also global head of research of emerging market currencies, said in a note sent to clients on Tuesday (09/07/2021).

"Cyclically, we expect a peak of around $100,000 in late 2021 or early 2022."

Bitcoin was at $46,024 in early European trade on Wednesday after hitting a four-month high above $52,000 on Monday (6/9/2021), while Ethereum consolidated losses at $3,366, as reported by Antara. 

Reporter : turkhan
Editor : turkhan