Standard Chartered: Bitcoin Will Reach $100,000 by the end of 2021

According to Reuters, the banking giant Standard Chartered said that Bitcoin will reach $100,000 in late 2021 or early 2022, followed by a similar rise in Ethereum, which the banking giant estimates will reach $26,000 – $35,000 (10 times its current price).

- Advertisement -

Of course, in order for Ethereum’s price predictions to become a reality, Bitcoin must first reach $175,000.

Earlier this month Standard Chartered announced that its Global Research team has initiated coverage of crypto assets with in-depth reports on Bitcoin (BTC) and Ethereum (ETH).

Members of the bank’s Asia-focused global research team said they rated credit card providers’ transactions and current valuations as a benchmark.

“As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,”

Geoffrey Kendrick – Head of Standard Chartered’s new crypto research unit.

To arrive at the valuation of bitcoin, they used the “financial market vs. currency” index and examined the market capitalization of credit card providers against possible transactions in the non-banking sector.

For Ethereum they said they compared the value of global banks to the value of global credit card companies.

Previous Articles:

- Advertisement -

Latest News

Walmart Launches Deals Week to Challenge Amazon Prime Day Sales

Walmart launches "Walmart Deals Week," a six-day event, to compete with Amazon Prime Day.The...

Ex-CFTC Chair Massad Urges Senate to Reject Rigid Crypto Rules

Two former U.S. regulators have been calling for joint oversight of crypto platforms by...

GMX Hacked for $42M, Circle Criticized for Slow USDC Freeze

GMX, a decentralized finance (DeFi) platform, suffered a $42 million hack linked to a...

Senators Target Crypto Bill Loopholes, Warn of President Abuse

Senators from both parties raised concerns about a proposed crypto market structure bill in...

GMX Exploited for $42M; Trading Halted as Investigation Ongoing

GMX, a decentralized crypto futures exchange, was hacked for $42 million. The attack targeted the...

Must Read

How To Buy a Handshake Domain: A Step-by-Step Guide

Handshake Domains | Benefits | Drawbacks | How To Buy | Supported BrowsersIn this step-by-step guide, I am going to show you how to...