BTC To Rally to $100,000 – Its Case Is Boosted By The Banking Crisis

As we have reported by now, Bitcoin could see massive surges in 2023. The price is boosted by more factors, and one of them is the collapse of the banks across the US and more.

Check out the latest reports and find out how BTC could reach $100k.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $28,945.

British multinational bank Standard Chartered is expressing bullish sentiment on Bitcoin (BTC), arguing that the crypto bear market has ended.

According to multiple reports, Standard Chartered analyst Geoff Kendrick said in a research note that has been just issued earlier this week that Bitcoin is destined to appreciate by over 250% from current levels to hit a new all-time high of $100,000.

Kendrick made sure to state the fact that Bitcoin could hit a new all-time high in under two years.

“We see potential for Bitcoin (BTC) to reach the USD 100,000 level by end-2024, as we believe the much-touted ‘crypto winter’ is finally over.”

The Standard Chartered analyst says that the banking crisis, which saw the likes of Silicon Valley Bank collapse and other US regional banks record deposit runs is definitely an advantage for BTC.

“The current stress in the traditional banking sector is highly conducive to BTC outperformance – and validates the original premise for Bitcoin as a decentralized, trustless and scarce digital asset.”

Pseudonymous analyst TechDev said that multiple technical indicators suggest that Bitcoin could be mimicking its 2015 bull market, a cycle that saw BTC rally from less than $200 to $20,000 in about two years.

The crypto analyst shared two charts that show how BTC has been following the 2015 cycle over the last year and a half. Stay tuned for more crypto news, and make sure to keep your eyes on the market.