Cryptocurrency Prices And News: Bitcoin Price Could Hit $120,000 By End Of 2024, Standard Chartered Says

Cryptocurrency News: Cryptocurrency prices rose early Tuesday while bitcoin and ethereum eased from their overnight highs.

On Monday, London-based Standard Chartered raised its bitcoin forecast to reach $50,000 this year and expects it to bolt to a new all-time high of $120,000 by the end of 2024, Reuters reported. “Increased miner profitability per BTC means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher,” the firm wrote. Standard Chartered guided bitcoin to hit $100,000 by the end of 2024 in an April report, but says there’s now additional upside to that forecast.


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Cryptocurrency Price Action

Bitcoin traded around $30,400 early Tuesday, fading from its overnight peak of $31,032. Bitcoin rocketed to $31,411 June 23 — its highest level since last May. BTC held above its $30,000 level the past week after diving below $25,000 on June 15 for the first time since mid-March. The world’s largest cryptocurrency bolted 83.6% so far this year.

Ethereum eased to $1,870 Tuesday morning after climbing back to its $1,900 level overnight. ETH traded around $1,900 since June 22 and hit a month high of $1,945 on June 30. ETH tumbled below $1,700 on June 15 for the first time since March and traded around $1,900 prior to the recent SEC lawsuits against Binance and Coinbase (COIN). Ethereum peaked at $2,139 on April 16 –  its highest level since last May, and shot above $2,000 for the first time in nearly a year on April 13 following its Shanghai upgrade to a proof-of-stake network. The No. 2 crypto soared 55.8% year-to-date.

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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture…



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