According to the bank’s crypto expert team, Ethereum
could reach USD $35,000.
A new cryptocurrency research team at Standard Chartered bank predicted that Bitcoin
will double in value and reach USD $ 100,000 by the end of this 2021 or at the latest early next year and could be worth up to USD $ 175,000 in the long term.
This was reported by Reuters
But the good forecasts are not only for the main crypto. The bank’s team also said it “structurally” valued Ethereum, the second most traded crypto asset, at USD $26,000-$35,000, although to reach that level, Bitcoin
would have to be close to $175,000.
“As a medium of exchange, Bitcoin may become the dominant peer-to-peer payment method for the unbanked in a future cashless world,” said Standard Chartered’
s new crypto research unit led by Geoffrey Kendrick, who is also the global head of its emerging market.
The information is part of currency research in a note sent to clients yesterday. Specifically on the price of Bitcoin
“Cyclically, we expect a peak of around USD$100,000 in late 2021 or early 2022.”
In a similar narrative, also prone to bullishness, Nick Spanos, an early BTC exchange trader and co-founder of Zap Protocol, defined Tuesday’s drop in the cryptocurrency market as a fake crash. “Big finance and the media are saying it’s because there was an irregular deployment in El Salvador. I’m in El Salvador right now and things look spectacular,”
he said, adding:
“So here we have a CEO who is breaking new ground, as a top executive, implementing innovation. He believes in it: he bought the dip, as everyone should be.”
Spanos backed the idea of a USD$100,000 Bitcoin price by the end of the year, adding that Ether also expects to reach USD$10,000 by then, Cointelegraph
arioBitcoin, Bitcoin and the broader market had a sharp drop yesterday, a decline that is still lingering, with Bitcoin at USD $46,282, down 9.29% from yesterday at the same time, according to data from CryptoMarkets. For some experts, who like these forecasting upside, now is the time to buy.