Bitcoin supply shock will send BTC price to $120K — Standard Chartered
Bitcoin การช็อกของอุปทาน Bitcoin จะส่งราคา BTC ไปที่ $120K — Standard Chartered ข่าว Bitcoin Ethereum Bitcoin (BTC) is in line to hit $50,000 this year and crack all-time highs in 2024, says Standard Chartered. In a report quoted by media outlets including Reuters on July 10, the banking giant went on record to announce a BTC price recovery. Standard Chartered vs. 2023 BTC price: From $5,000 to $50,000 In the wake of seismic changes in the institutional approach to Bitcoin in the United States, the mainstream narrative around the largest cryptocurrency is shifting rapidly. Standard Chartered, which just last year forecast the BTC price dropping as low as $5,000, now believes it will end the year ten times higher. BTC/USD should reach $50,000 in 2023, the report from the global head of research and chief strategist, Geoff Kendrick, forecasts. Thereafter, Bitcoin should go on to $120,000 by the end of next year. The reason, Kendrick believes, lies in supply dynamics. As miners dedicate more and more resources to preserving the network, they are also selling less BTC, creating a supply and demand imbalance that will tip in the bulls favor. “Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC