Bitcoin (BTC) has reached a fresh all-time high of $98,370 and is trading around $98,010, driven by positive sentiment and strong market momentum. Analysts at Standard Chartered predict that Bitcoin could reach $125,000 by the end of 2024 and $20,000 by the end of 2025. The crypto market remains optimistic, with many believing that Bitcoin will soon break the $100,000 barrier. Whale activity has been increasing, with large holders acquiring over 40,000 BTC in just 96 hours, indicating strong bullish sentiment. Bitcoin exchange-traded funds (ETFs) have seen significant inflows, with over $4 billion flowing into them since Donald Trump’s election, showing growing confidence among institutional investors. The technical analysis suggests that BTCUSD is trading above its short- and long-term moving averages, with minor support at $95,500 and potential targets at $135,000 if it breaks above $100,000. An investment strategy involves buying on dips around $90,000 with a stop-loss set around $84,000 for a target price of $135,000.
Marekt experts at Standard Chartered foresee a potential surge in value, predicting that Bitcoin could reach a staggering $200,000 by the end of 2025.
by newsworm | Nov 26, 2024 | Banking, Standard Chartered