The cryptocurrency world is no stranger to bold predictions and wild price projections, but when a major financial institution like Standard Chartered steps into the arena, it’s worth taking a closer look. Geoff Kendrick and his team of researchers at Standard Chartered have made waves with their prediction that Bitcoin will reach $100,000, and they’re not backing down. In fact, they’ve reaffirmed their forecast twice this year and now suggest that the target is not only achievable but rapidly approaching.

The Standard Chartered Forecast

Standard Chartered is no small player in the global banking industry. With assets among the largest in the world, its analysts don’t make bullish calls lightly. Back in April, Geoff Kendrick made headlines by forecasting that Bitcoin would hit $100,000 by the end of 2024. Just a few months later, in July, he doubled down on his prediction, citing decreased miner selling pressure and the upcoming block reward halving as bullish factors.Now, in November, Kendrick is standing firm yet again. In a recent note to clients, he reiterated his belief that “everything is working as expected” and that Bitcoin will indeed reach $100,000 by the end of 2024. Kendrick points to two emerging trends that will propel Bitcoin’s ascent: growing institutional interest driven by the expected approval of physical Bitcoin exchange-traded funds (ETFs) in early 2024.

The Catalysts Fueling the $100,000 Bitcoin

Kendrick and the Standard Chartered team have identified two key factors that they believe will drive Bitcoin to new heights. The first is the long-awaited approval of physical Bitcoin ETFs in the United States. For years, the crypto community has been eagerly anticipating these investment vehicles, with the belief that they will open the floodgates for substantial capital inflows into Bitcoin.The second factor, occurring around the same timeline, is the next Bitcoin halving scheduled for April 2024. Every four years, the reward given to miners for validating transactions is halved. This event reduces the new supply entering the market and tightens the asset’s stock-to-flow ratio, a metric that Kendrick and others argue is a reliable predictor of significant price increases.When combined, these two events create a potentially perfect storm for Bitcoin. The approval of ETFs is expected to bring in a wave of fresh investment, while the halving reduces the rate of new Bitcoin issuance. This dynamic could drive Bitcoin’s price to exceed the $100,000 mark.

Major Bank Lending Credibility to Crypto Predictions

Geoff Kendrick and his team at Standard Chartered are not the only ones eyeing a $100,000 Bitcoin. Prominent figures like Mike Novogratz have also mentioned this figure in their predictions. However, having major global banks like Standard Chartered publicly supporting such predictions adds a layer of credibility that individual traders cannot provide.When large financial institutions with trillion-dollar balance sheets make substantial crypto forecasts, it sends a powerful signal to the market. Kendrick’s statement that “everything is working as expected” suggests that these predictions may even be ahead of schedule.While the ultimate achievement of a $100,000 Bitcoin by 2024 remains uncertain, the growing optimism from both the cryptocurrency and traditional finance worlds indicates that it’s no longer a question of ‘if’ but ‘when.’ In the coming months, Bitcoin investors will be closely monitoring signs that Kendrick’s forecast may become a reality a year earlier than anticipated.

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Retik Finance (RETIK): A DeFi Underdog on the Rise

As Bitcoin’s price predictions continue to capture the spotlight, another player in the cryptocurrency space is making significant strides. Retik Finance (RETIK) is positioning itself as a DeFi underdog with the potential to outperform established projects.Retik Finance’s mission, “Empowering Finance, Enabling Freedom,” encapsulates its commitment to bridging the gap between traditional fiat financial systems and cryptocurrencies. The platform offers a Crypto DeFi Debit Card powered by Web 3.0 Wallet technology, allowing users to seamlessly utilize their crypto assets in the real world.What sets Retik Finance apart is its dedication to creating a fully decentralized financial ecosystem. By eliminating third-party intermediaries like banks and middlemen and replacing them with secure and efficient Smart Contracts, Retik Finance aims to deliver a financial environment that prioritizes transparency and trustworthiness.With Bitcoin’s ascent to $100,000 becoming an increasingly plausible scenario, Retik Finance stands as a symbol of innovation and progress within the DeFi space. While timing the market is challenging, the adoption of DeFi solutions like Retik Finance continues to advance, regardless of price fluctuations. In a crypto landscape filled with potential, Retik Finance is carving its path toward prominence and success.

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