Standard Chartered, a banking group that is among the five largest banks in the UK, recently presented its forecast for the price of Bitcoin (BTC) until the end of 2024. The bank’s analysts expect that the price of Bitcoin will rise to $100,000.

Standard Chartered published its forecast in a report, where it noted the growing popularity of Bitcoin among institutional investors, such as PayPal, Visa, Tesla, and MicroStrategy. The bank notes that the participation of large companies in the cryptocurrency market stimulates the growth of interest in digital assets and increases public confidence in them.

According to Standard Chartered analysts, the growing interest in Bitcoin leads to the emergence of new investors in the cryptocurrency market and strengthens the flow of capital into the industry. The bank notes that the market capitalization of Bitcoin is currently only about $1.2 trillion, which is an insignificant figure for the global financial market. Therefore, Standard Chartered analysts believe that Bitcoin could continue its growth and reach $100,000 by the end of 2024.

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