Bitcoin Predicted to Reach $150,000 by Year-End, Analysts Say

Standard Chartered maintains optimistic outlook despite recent market fluctuations.

Standard Chartered analyst Geoff Kendrick projects Bitcoin to more than double in value by the end of 2024, reaching $150,000.
Recent market conditions, characterized by lower leverage, are seen as favorable for Bitcoin's price appreciation.
The reduction in leveraged positions and a bullish market setup are expected to reignite Bitcoin's rally.
Significant investor inflows into Bitcoin ETFs are anticipated, potentially reaching up to $100 billion over the next two years.
Bitcoin's price trajectory is also bolstered by its recent halving event, historically leading to price surges.