Bitcoin price to hit $ 100,000 in 2021 or early 2022: Standard Chartered

Industry experts see Tuesday’s crypto market plunge as a ‘false bottom’ while reiterating the $ 100,000 Bitcoin ( BTC ) end of year price...



Industry experts see Tuesday’s crypto market plunge as a ‘false bottom’ while reiterating the $ 100,000 Bitcoin (BTC) end of year price.

In a new report from Standard Chartered’s Cryptocurrency Research Unit, Bitcoin is predicted to reach $ 100,000 “end of 2021 or beginning of 2022”, accompanied by a huge Ether (ETH) soaring prices.

The research team said Ether is “structurally” valued between $ 26,000 and $ 35,000 – 10 times its current price – but BTC needs to hit $ 175,000 for that to happen.

Nick Spanos, one of the first BTC exchange operators and co-founder of Zap Protocol, defined the Tuesday crash in the crypto market like a false hollow. “Big finance and the media say it’s because there has been a bumpy deployment in El Salvador. I’m in El Salvador right now and things look spectacular, ”he said, adding:

“So here we have a president who innovates, like a great CEO, who deploys innovation. He believes it: he bought the dip, as everyone should be.

Spanos backed the idea of ​​a Bitcoin price of $ 100,000 at the end of the year, adding that Ether was also looking to reach $ 10,000 by then.

Related: El Salvador buys downside as Bitcoin price flash collapses to $ 42.9,000

Spanos said that “there is basically a fire sale as a result of the drop, that will almost certainly be a good move.”

The price of Bitcoin is around $ 46,400 at the time of writing. As Cointelegraph reported, Bitcoin was getting closer to $ 53,000 Tuesday, the day El Salvador adopted the largest cryptocurrency as legal tender, before diving to $ 43,000.