Bitcoin’s Potential Surge to $100,000
Geoff Kendrick, the head of FX research at Standard Chartered, has outlined three factors that could drive Bitcoin’s potential surge to $100,000. Firstly, he believes that the overall market cap of digital assets will play a significant role in driving BTC price upside. Secondly, Kendrick points to the Bitcoin halving scheduled for April 2024 as a potential catalyst for a price explosion. He suggests that BTC’s valuation might peak 12-18 months after the halving event. Lastly, Kendrick expects the introduction of the first spot BTC ETF in the US to contribute to a bull run for Bitcoin.
Other Prominent Figures Predicting $100K Bitcoin
Robert Kiyosaki, an American investor and author of “Rich Dad, Poor Dad,” predicts that 2024 will be devastating for the US dollar and expects BTC to reach $120,000. Adam Back, CEO of Blockstream, also forecasts Bitcoin reaching $100,000 before the halving. These predictions align with a bullish sentiment towards Bitcoin and its potential for significant price growth.
Hot Take: Bitcoin’s Path to $100K
With rising overall market cap, the upcoming halving event in 2024, and the anticipated launch of a US spot BTC ETF, there are several factors indicating a potential surge for Bitcoin towards $100,000. Not only do industry experts like Geoff Kendrick, Robert Kiyosaki, and Adam Back share this outlook, but it also aligns with bullish trends and a weakening US dollar. As the crypto market continues to evolve and gain mainstream acceptance, Bitcoin’s journey to new all-time highs seems increasingly plausible.
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