London: A new cryptocurrency research team from Standard Chartered has predicted that bitcoin will double in value and reach $100,000 early next year and could be worth $175,000 long-term.
The bank also stated that it is “structurally” the value of the second most traded crypto asset, Ethereum, at $26,000-$35,000, although bitcoin would need to be closer to $175,000 to reach that level.
“As a medium of exchange, bitcoin could become the dominant peer-to-peer payment method for the unbanked global in a cashless world in the future,” said Standard Chartered’s new crypto research unit, headed by Geoffrey Kendrick, as part of its emerging market research unit. There are also global leaders. Currency Research said in a note sent to customers on Tuesday.
“Cyclically, we expect a peak of around $100,000 in late 2021 or early 2022”
Bitcoin was at $46,024 in early European trading on Wednesday, after rising to a four-month high above $52,000 on Monday, while Ethereum consolidated losses at $3,366.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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