The Crypto Roundup: 29 November 2023 | CryptoCompare.com

Standard Chartered Bank has reaffirmed its earlier forecast that Bitcoin (BTC) will see its price reach $100,000 by the end of next year, with the bank’s team believing that the approval of spot Bitcoin ETFs in the United States will be the catalyst for its growth.

The team, led by Geoff Kendrick, anticipated that spot Bitcoin ETFs are “likely to come sooner than expected,” noting that they see a number of spot ETFs being approved in the first quarter of next year, for both BTC and ETH.

Moreover, Standard Chartered highlighted the upcoming Bitcoin halving, which will see the reward miners receive per block get cut in half. This  is expected to take place in late April 2024, and is another element that could lead to potential price surges.

Previously, Standard Chartered projected that BTC would reach $120,000 by the end of the following year, attributing Bitcoin’s success to its reputation as a reliable safe haven asset. The bank also pointed out BTC’s dominance “remains intact” at around 50% of the overall market.

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/nov/29/