Banks Getting More Optimistic With BTC? Standard Chartered Bank Reveals Latest BTC Price Forecast!

<p>&nbsp;Standard Chartered Bank has revised its initial forecast of $100,000 Bitcoin price by the end of 2024 as the scare phase has passed in 2022. Now, the bank predicts that Bitcoin price could reach $50,000 by the end of this year and surpass $120,000 by next year. This bullish projection comes as bank analysts expect an increase in Bitcoin holdings by miners.</p><p><br /></p><p>Standard Chartered Bank predicts that Bitcoin may reach $50,000 this year and $120,000 by the end of 2024. The bank predicts that rising BTC prices could encourage bitcoin miners to hold more Bitcoin supply.</p><p><br /></p><p>Previously, the bank predicted the price of Bitcoin to reach $100,000 by the end of 2024. However, the bank's top foreign exchange analyst Geoff Kendrick said there was a 20% increase to the initial forecast due to Bitcoin miners holding more BTC.</p><p><br /></p><p><br /></p><p>Further strengthening the confidence of the inflow of crypto assets for three consecutive weeks and the monthly MACD turning green indicates a positive outlook for the price of Bitcoin. Crypto asset investment products saw net inflows of $136 million last week.</p><p><br /></p><p>BTC price is currently trading at $30277 in the last 24 hours.</p><p><br /></p><p>Although miners are ready to hold more BTC, the difficulty of bitcoin mining remains challenging. On-chain data platform Glassnode reports that the Bitcoin Hash Rate (7DMA) continues to move in the opposite direction, reaching an ATH value of 395 EH/s. This equates to 395 quintillion guesses per second in an attempt to solve a Block.</p>