Global banking giant Standard Chartered has upped its bitcoin price prediction for the end of 2024 to $150,000, a significant increase from its previous forecast of $100,000.

In a new report, Standard Chartered analysts cited strong inflows into recently launched spot bitcoin ETFs in the U.S. as a primary driver of their bullish outlook. The bank believes these “sticky” institutional flows will continue propelling Bitcoin’s price.

Standard Chartered has emerged as one of the more Bitcoin-friendly legacy banks, with an active research team covering Bitcoin. Previously, the bank’s analysts had predicted Bitcoin would reach $100,000 by the end of 2024.

But with Bitcoin’s strong performance in…

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In a decade-long struggle, James Howells, a 38-year-old IT expert, has now decided to fight a legal battle to get back a hard drive containing bitcoin worth over £400 million. Howells’ ordeal originated from a seemingly casual cleaning mishap a decade ago, leading to an unimaginable loss.

An Accident

It all began in 2013 when Howells accidentally discarded a bag containing the hard drive, mistakenly deeming it trash. Little did he realize, this would lead to the forfeiture of access to 8,000 bitcoin, a digital fortune that has since skyrocketed in value over the years.

The hard drive, a repository of private keys crucial for accessing BTC, represents the culmination of Howells’ early…

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Renowned investor and author Robert Kiyosaki, has recently been vocal about his preference for Bitcoin over traditional assets like gold, silver, and oil. This may come as a surprise, because many knew Kiyosaki as an advocate for investments in gold and real estate. He has previously shown interest in bitcoin, but favoring the digital asset and his comparison of gold vs bitcoin is a fresh perspective.

SourceBitcoin’s Limited Supply Advantage

Kiyosaki has pointed out a fundamental difference between Bitcoin and traditional assets such as gold, silver, and oil. While he acknowledges owning gold, silver mines, and oil wells, he highlights the problem of increasing supply with these…

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Bitcoin, the leading digital asset, faced a tumultuous turn of events as its price plummeted to a weekly low of $65,000, causing significant distress among investors. This bitcoin crash, marking a setback after a period of remarkable gains, sparked a flurry of liquidations exceeding $500 million.

Market Turmoil

The digital assets market was rattled by the sharp decline in bitcoin prices, with altcoins also experiencing substantial losses. Many altcoins plunged by more than 30%. The broader altcoin market mirrored bitcoin’s downward trajectory, amplifying unease among investors.

Bitcoin fell 13% to $65,000, and partially recovered — TradingViewBitcoin Crash Causes Liquidation…

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Standard Chartered Bank has raised its year-end Bitcoin price forecast to $150,000, marking a significant 50% increase from its previous estimate of $100,000. The revision stems from robust inflows into spot bitcoin exchange-traded funds (ETFs) in the U.S., surpassing derivatives’ open interest growth and signaling sustained investment interest, especially from institutional funds.

The bank predicts Bitcoin to peak at $250,000 in the 2025 cycle before stabilizing around $200,000, drawing parallels with gold ETFs’ historical performance. Standard Chartered emphasizes the potential for BTC’s price to surpass expectations if ETF inflows hit $75 billion or if reserve managers start acquiring BTC.

Regarding Ethereum (ETH), the bank anticipates a potential surge in its price upon approval of an ETH ETF by the Securities and Exchange Commission (SEC) on May 23. Standard Chartered projects inflows of up to $45 billion in the first year, potentially propelling ETH to $8,000 by the end of 2024 and a return to a 7% ETH-to-BTC price ratio by 2025, suggesting an ETH price of $14,000. The analysis underscores the influence of regulatory decisions and institutional investments on the future trajectories of both Bitcoin and Ethereum.

CoinDesk

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

After a lengthy legal dispute, London’s High Court of Justice has formally determined that Australian computer scientist Craig Wright is not Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

One of the great mysteries of the Bitcoin community since its inception has been quite related to the inception itself: who is Satoshi…

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Amidst a buzzing crypto market, Bitcoin (BTC) emerges as the center of attention, showcasing substantial profit-taking activities by short-term holders. Currently trading at an impressive $67,894.58, Bitcoin has been on a remarkable growth trajectory. Data from CryptoQuant points to a trend where investors, who’ve held BTC for less than five months, are actively realizing profits. This movement, reflected through the Spent Output Profit Ratio (SOPR), echoes the profit-taking peaks seen in previous bull markets, signaling a pivotal moment for the digital currency.

Crypto experts like Crypto Dan emphasize the rarity of such market dynamics, comparing it to phenomena that occur “once every few years.” Despite this surge in short-term profit-taking, the broader market outlook remains optimistic. With the introduction of a Bitcoin spot ETF and anticipated investments from both institutional and retail investors, the scene is set for Bitcoin’s potential rebound in 2024. This current trend underscores Bitcoin’s resilience and the strategic mindset of its investors, as highlighted by CryptoQuant’s insightful data analysis.

CryptoQuant

$1M – $10M MarketCap:

1. Fabwelt (WELT): 190%
2. Hot Cross (HOTCROSS): 105%
3. Berry (BERRY): 78%
4. Meme AI Coin (MEMEAI): 72%
5. Minu (MINU): 57%

$10M – $100M MarketCap:

1. iMe Lab (LIME): 79%
2. Non-Playable Coin (NPC): 63%
3. r/FortNiteBR Bricks (BRICK): 59%
4. Creo Engine (CREO): 40%
5. Moonwell (WELL): 39%

$100M – $1B MarketCap:

1. Huobi Token (HT): 59%
2. MANTRA (OM): 55%
3. Unizen (ZCX): 55%
4. Milady Meme Coin (LADYS): 55%
5. Marblex (MBX): 39%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Solana’s native cryptocurrency has witnessed a remarkable surge, climbing over $200 in the last 24 hours, now trading at $202.96. This impressive 11.96% increase positions Solana as the fourth largest crypto by market capitalization, now exceeding $90 billion. This milestone marks the first time Solana has breached the $200 barrier since December 2021, signaling strong investor confidence and market momentum.

Driving this surge, Solana’s network activity overtook Ethereum’s, largely due to the popularity of SOL-based meme coins. Notably, the BOOK OF MEME token surged by 322%, boasting a market cap over $1 billion and a trading volume of $4.73 billion in a single day. Additionally, Solana’s DeFi sector has seen an 80% increase in TVL, reaching its highest level in two years.

Adding to Solana’s achievements, Google Trends data reveals a peak search popularity score of 100 for “Solana,” the highest in the past five years and a substantial increase from the second-highest score of 84 in early September 2021. This surge in interest not only highlights Solana’s growing appeal but also sets a new benchmark in its five-year history, showcasing the cryptocurrency’s escalating prominence and investor interest.

Data