Bitcoin rate may reach $50,000 this year and will exceed $120,000 by the end of 2024. In this respect informs Reuters cites data from Standard Chartered.
Bank analysts believe this may encourage miners to accumulate more cryptocurrencies. At the same time, the bank previously predicted that by the end of 2024, the bitcoin rate would be at $100,000.
“Given the more positive dynamics in the cryptocurrency market, 20% could be added to this estimate,” said Jeff Kendrick, the bank’s leading currency analyst.
He added that the profitability of miners increases as they can make fewer sales while maintaining their cash flow.
May 13 Nikita Vassev, co-founder of 0xprocessing declarationBitcoin (BTC), Arbitrum (ARB) and Sui (SUI) are currently the main cryptocurrencies with growth potential. At the same time, it should be remembered that cryptocurrencies themselves are a volatile asset and investments in them can lead to losses.
Previously reportedMiners from all over the world started earning $27 million every day.