Bitcoin
BTC$41 800.30

6.07%

Ethereum
ETH$2 254.14

4.72%

Tether
USDT$1.000265

0%

Binance Coin
BNB$231.16

1.80%

XRP
XRP$0.623299

-0.16%

Solana
SOL$61.88

-1.23%

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 84.8% 16 $41 800.30 6.07% 12.97% $817 650 631 149 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 84.8% 27 $2 254.14 4.72% 11.49% $271 021 537 915 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000265 0% -0.01% $89 671 342 751 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82% 26 $231.16 1.80% 1.90% $35 066 472 230 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 79.6% 30 $0.623299 -0.16% 3.17% $33 588 707 166 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 65.2% 67 $61.88 -1.23% 12.69% $26 257 579 897 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000124 0.04% -0.01% $24 497 048 556 USDC 7 days price change
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15 Avalanche (AVAX) AVAX Avalanche predictions 56.8% 87 $21.84 0% 5.94% $7 977 619 351 AVAX 7 days price change

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