Perhaps the record gains recorded by the cryptocurrency market are the beginning of greater gains in line with expectations that Bitcoin will reach the level of $120,000 by the end of next year.

In a recent research note, Standard Chartered Bank strengthened its positive expectations for Bitcoin, expecting its target price to reach the range of $120,000 by the end of 2024, and to stabilize at the level of $50,000 by the end of the current year. According to these expectations, “bitcoin” is being traded. Bitcoin" by about 25.4 percent of the expected figure of $120,000.

Jeff Kendrick, Director of Digital Assets Research at Standard Chartered, said: “The increased profitability of miners for each Bitcoin mined means that they can reduce their sales now while maintaining good cash flows, in addition to reducing the net supply of Bitcoin, and pushing cryptocurrency prices to... Rise further."$BTC