• Latest
  • Trending
  • All
  • India
  • Business
  • Politics
  • World
  • Lifestyle
  • Technology
Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered

Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered

July 11, 2023
Iran begins nuclear talks with Europeans, denies extending UN resolution

Iran Begins Nuclear Talks With Europeans, Denies Extending UN Resolution

July 25, 2025
After laying off 15,000 employees, Satya Nadella admits Microsoft's AI shift feels messy

After Laying Off 15,000 Employees, Satya Nadella Admits Microsoft’s AI Shift Feels Messy

July 25, 2025
Shubman Gill's decision to give Anshul Kamboj new ball highly debatable: R Ashwin

Shubman Gill’s Decision To Give Anshul Kamboj New Ball Highly Debatable: R Ashwin

July 25, 2025
Sensex ends 721 points lower, Nifty below 24,900; Bajaj Finance falls 5%

Sensex Ends 721 Points Lower, Nifty Below 24,900; Bajaj Finance Falls 5%

July 25, 2025
TN 12th Supply Result 2025 Live: DGE Tamil Nadu HSE +2 supply answer sheet application released, direct link here

TN 12th Supply Result 2025 Live: DGE Tamil Nadu HSE +2 Supply Answer Sheet Application Released, Direct Link Here

July 25, 2025
Shweta Tiwari shares fitness secrets for toned body at 44: 'I do Pilates, little weight training but not yoga'

Shweta Tiwari Shares Fitness Secrets For Toned Body At 44: ‘I Do Pilates, Little Weight Training But Not Yoga’

July 25, 2025
Pawan Kalyan looks awkward as fan girl, actor Nivita Manoj touches his feet, holds arm to click pics. Watch

Pawan Kalyan Looks Awkward As Fan Girl, Actor Nivita Manoj Touches His Feet, Holds Arm To Click Pics. Watch

July 25, 2025
Parliament to hold 32-hour special discussion on Operation Sindoor next week: Kiren Rijiju

Parliament To Hold 32-hour Special Discussion On Operation Sindoor Next Week: Kiren Rijiju

July 25, 2025
No greater example than Operation Sindoor, says IAF vice chief Air Marshal

No Greater Example Than Operation Sindoor, Says IAF Vice Chief Air Marshal

July 25, 2025
SBI PO Admit Card 2025 News Live: Prelims from August 2, admit cards expected soon

SBI PO Admit Card 2025 News Live: Prelims From August 2, Admit Cards Expected Soon

July 24, 2025
Exports to software: How India's economy will benefit from UK trade deal

Exports To Software: How India’s Economy Will Benefit From UK Trade Deal

July 24, 2025
Should Rishabh Pant be allowed a batting sub? Parthiv Patel weighs in on ICC rule

Should Rishabh Pant Be Allowed A Batting Sub? Parthiv Patel Weighs In On ICC Rule

July 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 25, 2025
No Result
View All Result
Daily News Broadcast India
  • India
    • All
    • Politics
    Parliament to hold 32-hour special discussion on Operation Sindoor next week: Kiren Rijiju

    Parliament To Hold 32-hour Special Discussion On Operation Sindoor Next Week: Kiren Rijiju

    No greater example than Operation Sindoor, says IAF vice chief Air Marshal

    No Greater Example Than Operation Sindoor, Says IAF Vice Chief Air Marshal

    Those who misuse democratic freedoms must be held accountable: PM Modi on terrorism

    Those Who Misuse Democratic Freedoms Must Be Held Accountable: PM Modi On Terrorism

    ‘Loktantra, not Loktantar’: BJP mocks INDIA bloc over misspelling in protest banner

    ‘Loktantra, Not Loktantar’: BJP Mocks INDIA Bloc Over Misspelling In Protest Banner

    Parliament to hold 16-hour discussion on Op Sindoor from July 29

    Parliament To Hold 16-hour Discussion On Op Sindoor From July 29

    Ahmedabad-Diu IndiGo flight aborts takeoff after engine catches fire

    Ahmedabad-Diu IndiGo Flight Aborts Takeoff After Engine Catches Fire

    ‘Very sad’: Shashi Tharoor expresses concern over Dhankhar's health after resignation as Vice President

    ‘Very Sad’: Shashi Tharoor Expresses Concern Over Dhankhar’s Health After Resignation As Vice President

    Air India completes check of all Boeing planes, says no issues found

    Air India Completes Check Of All Boeing Planes, Says No Issues Found

    I am the leader of opposition and I have the right to speak: Rahul Gandhi

    I Am The Leader Of Opposition And I Have The Right To Speak: Rahul Gandhi

    9 showcause notices to Air India for 5 safety violations in last 6 months: Govt

    9 Showcause Notices To Air India For 5 Safety Violations In Last 6 Months: Govt

    Trending Tags

    • Politics
  • Entertainment
    Pawan Kalyan looks awkward as fan girl, actor Nivita Manoj touches his feet, holds arm to click pics. Watch

    Pawan Kalyan Looks Awkward As Fan Girl, Actor Nivita Manoj Touches His Feet, Holds Arm To Click Pics. Watch

    Hari Hara Veera Mallu Part 2 title revealed: Pawan Kalyan to face off against Bobby Deol in sequel

    Hari Hara Veera Mallu Part 2 Title Revealed: Pawan Kalyan To Face off Against Bobby Deol In Sequel

    Pawan Kalyan all set to wrap up cop drama Ustaad Bhagat Singh with Gabbar Singh maker Harish Shankar

    Pawan Kalyan All Set To Wrap Up Cop Drama Ustaad Bhagat Singh With Gabbar Singh Maker Harish Shankar

    14 years of Singham: Tracing Ajay Devgn’s journey as a justice-seeking force

    14 years Of Singham: Tracing Ajay Devgn’s Journey As A Justice-seeking Force

    Ahaan Panday is ‘shell-shocked’ after Karan Johar's praise for Saiyaara: ‘I grew up watching Kuch Kuch Hota Hai’

    Ahaan Panday Is ‘Shell-shocked’ After Karan Johar’s Praise For Saiyaara: ‘I Grew Up Watching Kuch Kuch Hota Hai’

    Raanjhanaa re-release: Aanand L Rai fumes at Eros for AI-tweaked ‘happy’ climax for Dhanush, Sonam Kapoor film

    Raanjhanaa Re-release: Aanand L Rai Fumes At Eros For AI-tweaked ‘Happy’ Climax For Dhanush, Sonam Kapoor Film

    Ajay Devgn savagely roasts Ravi Kishan's marriage, Navjot Singh Sidhu's career on The Great Indian Kapil Show. Watch

    Ajay Devgn savagely roasts Ravi Kishan’s marriage, Navjot Singh Sidhu’s career on The Great Indian Kapil Show. Watch

    Sanjay Dutt says Bollywood has lost ‘passion’ for cinema, unlike south Indian film industries: Everything is about money

    Sanjay Dutt Says Bollywood Has Lost ‘Passion’ For Cinema, Unlike South Indian Film Industries: Everything Is About Money

    The Great Indian Kapil Show S3 shows decline in viewership after Salman Khan episode; Ranbir Kapoor ep still on top

    The Great Indian Kapil Show S3 Shows Decline In Viewership After Salman Khan Episode; Ranbir Kapoor Ep Still On Top

    Saiyaara trailer: Ahaan Panday and Aneet Padda love, laugh, and fight in intense Aashiqui-coded love story. Watch

    Saiyaara Trailer: Ahaan Panday And Aneet Padda Love, Laugh, And Fight In Intense Aashiqui-coded Love Story. Watch

  • Lifestyle
  • Sports
  • Business
  • Technology
  • World
  • Videos
  • Covid19
  • Opinion
DNB india
No Result
View All Result
Home Business

Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered

by DNB ind News Desk
July 11, 2023
in Business
0
Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered
2
SHARES
5
VIEWS
Share on FacebookShare on TwitterShare to Whatspp

Bitcoin’s price has leapt 80 percent since the start of the year.

The value of top cryptocurrency bitcoin could reach $50,000 (roughly Rs. 41,19,200) this year and $120,000 (roughly Rs. 98,85,800) by the end of 2024 Standard Chartered said on Monday, predicting the recent jump in its price could encourage bitcoin “miners” to hoard more of the supply.

Standard Chartered published a $100,000 (roughly Rs. 82,38,000) end-2024 forecast for bitcoin back in April on the view the so-called “crypto winter” was over, but one of the bank’s top FX analysts, Geoff Kendrick, said there was now 20 percent “upside” to that call.

“Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher,” Kendrick said in a report.

Bitcoin’s price has leapt 80 percent since the start of the year but its current level of just over $30,200 (roughly Rs. 24,87,900) is still less than half the $69,000 (roughly Rs. 56,84,000) it peaked back in November 2021.

Trillions of dollars were wiped from the crypto sector in 2022, as central banks hiked rates and a string of crypto firms, such as the FTX exchange, imploded. This year’s collapse of a number of traditional-style banks though has fed the rebound.

Standard Chartered said the rationale for its predicted price rise was that miners who mint the 900 new bitcoins produced each day around the world would soon need to sell fewer to cover their costs – mostly electricity to power supercomputers.

Kendrick estimated that miners have recently been selling 100 percent of their new coins. If the price hits $50,000 (roughly Rs. 41,19,000) though, they would probably only sell 20-30 percent.

“It is the equivalent of miners reducing the amount of bitcoins they sell per day to just 180-270 from 900 currently.”

“Over a year, that would reduce miner selling from 328,500 to a range of 65,700-98,550 – a reduction in net BTC supply of roughly 250,000 bitcoins a year.”

Next April or May the total number of bitcoins able to be mined each day is also set to halve due to an inbuilt supply and issuance mechanism that gradually limits supply to maintain its appeal.

Predictions of sky-high valuations have been commonplace during bitcoin’s past rallies. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 (roughly Rs. 2.6 crore) by the end of 2022. It closed last year down about 65 percent at $16,500 (roughly Rs. 13,59,200 crore).

Related

Tags: BitcoincryptocurrencyStandard Chartered
Share1Tweet1Send
DNB ind News Desk

DNB ind News Desk

  • Trending
  • Comments
  • Latest
Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

April 12, 2022
Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

April 15, 2022
Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

April 12, 2022

COVID-19 update: India records 7,579 new cases, 236 deaths in last 24 hours

0

Team India vice-captain Cheteshwar Pujara to carry ‘fearless mindset’ from England into NZ Tests

0

Breaking: Andhra Pradesh Assembly passes resolution, asks Centre for caste-based census of backward classes

0
Iran begins nuclear talks with Europeans, denies extending UN resolution

Iran Begins Nuclear Talks With Europeans, Denies Extending UN Resolution

July 25, 2025
After laying off 15,000 employees, Satya Nadella admits Microsoft's AI shift feels messy

After Laying Off 15,000 Employees, Satya Nadella Admits Microsoft’s AI Shift Feels Messy

July 25, 2025
Shubman Gill's decision to give Anshul Kamboj new ball highly debatable: R Ashwin

Shubman Gill’s Decision To Give Anshul Kamboj New Ball Highly Debatable: R Ashwin

July 25, 2025
Daily News Broadcast India

Copyright © 2023 Daily News Broadcast India.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • India
    • Politics
    • Business
    • World
  • Entertainment
    • Sports
  • Covid19
  • Business
  • Technology
  • Lifestyle

Copyright © 2023 Daily News Broadcast India.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?