FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

Bitcoin to hit $100000 this year? Standard Chartered thinks it might


9 September 2021

Analysts at Standard Chartered have presented a framework for valuing Bitcoin, saying structurally they ‘value’ the world’s largest cryptocurrency in a $50,000-$175,000 range. Cyclically, the bank expects Bitcoin to peak around $100,000 in late 2021 or early 2022. In its first report on crypto assets, Standard Chartered cites three main reasons for its structural valuation for Bitcoin.

The bank says these three approaches put Bitcoin’s value in the range of $50,000-$175,000. Standard Chartered notes that Bitcoin prices tend to peak around 1.5 years after new supply reduction, with the growth rate of new supply cut in half roughly every 4.5 years. For this cycle, the peak would be late 2021 or early 2022 and it would only take a cyclical 12x increase for the peak to be above $100,000. Bitcoin rose 28x following the previous halving of supply growth and 93x following the 2012 halving.

Ethereum

Standard Chartered has released a similar research report on the second largest cryptocurrency by market cap, Ethereum. Structurally, the bank values Ethereum at $26,000-$35,000, however, to reach that level it would require Bitcoin trading at the top of its valuation range ($175,000).

“A range of $26,000-$35,000 may appear high compared to the current ETH price, but we think the current price reflects both the relative complexity of ETH (versus BTC) and the uncertainty around ETH’s development,” Standard Chartered said in the research note. “In other words, while potential returns may be greater for ETH than for BTC, risks are also higher.”

Over the medium term, Standard Chartered thinks Ethereum will be a better buy than Bitcoin and expects the cross rate to roughly double from current levels to 0.161. The current ETH/BTC rate stands around 0.075.

#source

Related

The Crypto market clears the way for growth to new heights
The Crypto market clears the way for growth to new heights

The crypto market continues to be in a positive frame of mind with a total capitalisation of around $2.6 trillion. Bitcoin received support earlier in the week on a decline...

27 Oct 2021

Bitcoin ETF Approval Unleashes The Crypto Bull
Bitcoin ETF Approval Unleashes The Crypto Bull

In the growth and development of Bitcoin towards a mainstream financial asset, the desire to have a Bitcoin ETF has been high on the wish list. Many companies...

21 Oct 2021

Stock Futures Flat, Bitcoin ETF Begins Trading Today
Stock Futures Flat, Bitcoin ETF Begins Trading Today

Today is the day that crypto traders have so eagerly been waiting for, as the ProShares Bitcoin Strategy ETF is now ready to invest in bitcoin futures and, according...

19 Oct 2021

Bitcoin to new all time highs?
Bitcoin to new all time highs?

Bitcoin has attracted a fair bit of attention in the last few days, hitting $62,857 and just shy of a new all-time high. Sentiment remains buoyant as we head past weekend...

18 Oct 2021

The price of Bitcoin jumped towards its all-time high on Friday morning
The price of Bitcoin jumped towards its all-time high on Friday morning

Hopes that a Bitcoin futures ETF would be approved by the SEC have supported the price in recent weeks. Some exchanges show the world’s largest cryptocurrency reached $60,000...

18 Oct 2021

Bitcoin approaches all-time high but hits resistance at $60000
Bitcoin approaches all-time high but hits resistance at $60000

The price of Bitcoin jumped towards its all-time high on Friday morning after a Bloomberg report said the US Securities and Exchange Commission (SEC) is set to allow...

15 Oct 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
AvaTrade information and reviews
AvaTrade
76%
LegacyFX information and reviews
LegacyFX
75%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.