The collapse of Silicon Valley Bank and other mid-tier U.S. lenders has solidified the case for bitcoin as a "decentralised, trustless and scarce digital asset," Standard Chartered analyst Geoff Kendrick said in a note Monday.
This, coupled with a stabilization of risk assets and speculation that the Federal Reserve will ease monetary tightening further, means the "pathway to the USD 100,000 level is becoming clearer," Kendrick said.
Bitcoin is up 66% since the start of the year — though it has fallen sharply since breaching $30,000 two weeks ago.
Crypto winter is over — and bitcoin could hit $100,000 by the end of 2024.
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