Bitcoin
BTC$76 064.81

0.08%

Ethereum
ETH$2 914.44

2.30%

Tether
USDT$1.000636

-0.02%

Solana
SOL$197.59

1.92%

Binance Coin
BNB$592.90

-1.02%

USD Coin
USDC$0.999657

-0.03%

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% 31 $76 064.81 0.08% 8.61% $1 504 523 633 485 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 83.2% 24 $2 914.44 2.30% 15.68% $350 956 842 345 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000636 -0.02% 0.07% $122 031 247 565 USDT 7 days price change
4 Solana (SOL) SOL Solana predictions 75.2% 54 $197.59 1.92% 18.72% $93 177 120 083 SOL 7 days price change
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6 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $0.999657 -0.03% -0.05% $36 900 654 879 USDC 7 days price change
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15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92.8% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

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