Bitcoin
BTC$28 953.50

-4.17%

Ethereum
ETH$1 929.37

-6.11%

Tether
USDT$0.999062

0%

USD Coin
USDC$1.000165

0.02%

Binance Coin
BNB$316.54

-3.99%

XRP
XRP$0.397236

-6.29%

Bitcoin to hit $100,000 this year? Standard Chartered thinks it might


09 Sep 2021

#Bitcoin

Analysts at Standard Chartered have presented a framework for valuing Bitcoin, saying structurally they ‘value’ the world’s largest cryptocurrency in a $50,000-$175,000 range. Cyclically, the bank expects Bitcoin to peak around $100,000 in late 2021 or early 2022. In its first report on crypto assets, Standard Chartered cites three main reasons for its structural valuation for Bitcoin.

The bank says these three approaches put Bitcoin’s value in the range of $50,000-$175,000. Standard Chartered notes that Bitcoin prices tend to peak around 1.5 years after new supply reduction, with the growth rate of new supply cut in half roughly every 4.5 years. For this cycle, the peak would be late 2021 or early 2022 and it would only take a cyclical 12x increase for the peak to be above $100,000. Bitcoin rose 28x following the previous halving of supply growth and 93x following the 2012 halving.

Ethereum

Standard Chartered has released a similar research report on the second largest cryptocurrency by market cap, Ethereum. Structurally, the bank values Ethereum at $26,000-$35,000, however, to reach that level it would require Bitcoin trading at the top of its valuation range ($175,000).

“A range of $26,000-$35,000 may appear high compared to the current ETH price, but we think the current price reflects both the relative complexity of ETH (versus BTC) and the uncertainty around ETH’s development,” Standard Chartered said in the research note. “In other words, while potential returns may be greater for ETH than for BTC, risks are also higher.”

Over the medium term, Standard Chartered thinks Ethereum will be a better buy than Bitcoin and expects the cross rate to roughly double from current levels to 0.161. The current ETH/BTC rate stands around 0.075.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60% 87 $28 953.50 -4.17% -3.67% $551 514 958 969 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 88 $1 929.37 -6.11% -6.26% $233 271 604 070 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $0.999062 0% 0.01% $73 206 337 226 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000165 0.02% 0.01% $53 264 489 963 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58% 88 $316.54 -3.99% 4.58% $51 683 254 368 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 58.4% 91 $0.397236 -6.29% -7.17% $19 203 606 558 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000278 0.11% 0.03% $18 328 809 687 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 56.4% 93 $0.502003 -7.81% -12.64% $16 943 898 369 ADA 7 days price change
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11 Polkadot (DOT) DOT Polkadot predictions 55.2% 90 $9.73 -6.72% -10.15% $9 613 488 110 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 56.8% 87 $28 897.59 -4.37% -3.70% $7 993 157 722 WBTC 7 days price change
13 TRON (TRX) TRX TRON predictions 73.2% 56 $0.079994 5.25% 13.91% $7 570 190 446 TRX 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 55.6% 93 $27.44 -12.43% -18.78% $7 390 659 271 AVAX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.2% 1 $0.999659 -0.06% -0.01% $6 569 292 513 DAI 7 days price change

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