Editor's PiCK
"Bitcoin Could Surpass $200,000 This Year... Driven by Institutional Demand"
Summary
- Foreign media reported that "Bitcoin could surpass $200,000 this year."
- Standard Chartered and Intellectia AI stated that the likelihood of this scenario being realized is high if there is no black swan event.
- They added that "the active demand from institutions is leading the positive price flow of Bitcoin."
According to foreign media on the 22nd (local time), it is predicted that Bitcoin (BTC) could surpass $200,000 this year as institutional demand for Bitcoin spot Exchange-Traded Funds (ETFs) increases and hedging demand against macroeconomic risks intertwines.
Standard Chartered and Intellectia AI evaluated in a joint report that "if a black swan event does not occur, the likelihood of this scenario being realized is high."
They added, "The active demand from institutions, including major exchanges such as Coinbase and Kraken, is leading the positive price flow of Bitcoin," and "the scale of Bitcoin currently held by companies amounts to about $65 billion."
Meanwhile, BTC is trading at $91,491.32, up 5.31% from the previous day, based on the Binance Tether (USDT) market as of 3:55 on the 23rd.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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