$ 789 billion Standard Chartered sees Bitcoin hit $ 100,000 by early next year

Standard Chartered’s new bitcoin and crypto research team has forecast a target price of $ 100,000 by early 2022, Reuters reported.

The team also predicted that Bitcoin could hit $ 175,000 in the “longer term”.

Standard Chartered’s new bitcoin and crypto research director, Geoffrey Kendrick, told his clients in a note on Tuesday, “As a medium of exchange, Bitcoin could become the dominant peer-to-peer payment method for the global banking disregarded world in the future . “

“Cyclically, we expect a high of around $ 100,000 in late 2021 or early 2022,” concluded Kendrick.

The remarks come on the same day that El Salvador introduced Bitcoin as a legal currency. Only time will tell if Bitcoin will become the dominant peer-to-peer exchange method in a country with so many without bank details. Although small microeconomics of Bitcoin peer-to-peer exchanges, such as El Zonte, also known as Bitcoin Beach, have already benefited greatly from its adoption.

Big companies like McDonald’s and Starbucks have already started accepting bitcoin payments in El Salvador, and most companies are expected to do so in order to comply with the law. This should underpin both Kendrick’s theses of a year-end price of $ 100,000 and stronger peer-to-peer acceptance.

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