LONDON : A new cryptocurrency research team at Standard Chartered has predicted bitcoin will double in value and hit US$100,000 by early next year and that it could be worth as much as US$175,000 longer-term.
The bank also said it"structurally" valued Ethereum, the second-most traded crypto asset, at US$26,000-US$35,000 although to reach that level bitcoin would have to be near US$175,000. "As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world," Standard Chartered's new crypto research unit headed by Geoffrey Kendrick who is also the global head of its emerging market currency research said in a note sent to clients on Tuesday.
Great news to stop tyranny of the establishment…😷
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