Search Results for: Standard Chartered Bank

Standard Chartered, a major banking institution, predicts a bright future for Bitcoin, with forecasting its value to rise to $50,000 by year’s end and even reach an impressive $120,000 by next year’s end. These projections are based on shifting supply dynamics and increased miner profitability. However, this optimistic view also assumes successful worldwide technological advancements, specifically in Artificial Intelligence. Despite optimism, the crypto market remains high-risk, and potential investors are reminded to act wisely.

Bitcoin’s bullish trend above $30,000 is due to factors such as optimistic outlooks, institutional adoption, and friendly regulatory environments. Standard Chartered’s speculation revolves around Bitcoin miners retaining more coins, shrinking supply, and potentially boosting the coin’s value, with a possible high of $120,000 by 2025 suggested.

The Grayscale Bitcoin Trust’s discount to net asset value retaliates with the U.S application for a Bitcoin ETF by BlackRock, while Arkham Intelligence faces controversy over its new service and data handling. Meanwhile, Bitcoin’s potential rise to $50,000 by year-end is predicted by Standard Chartered Bank.

“Standard Chartered Bank recently updated their Bitcoin forecast, suggesting it could hit $50,000 by year’s end and possibly reach $120,000 by 2024. The report cites increased miner profitability and looming banking-sector crisis as pivotal factors impacting Bitcoin’s potential growth.”

Hong Kong grants a retail trading license to the HashKey platform, reflecting its readiness to become a crypto hub in Asia. The move expands digital assets access to retail investors. Notably, auditing firms KPMG and EY will ensure operational transparency, underlining Hong Kong’s focus on secure crypto regulations.

Speculations surround the US Federal Reserve’s possible pause of interest rate hikes in June 2023, with a 73% likelihood. While many view it as a market stabilizer, some experts argue the strong economy may warrant resumed rate hikes. Investors prepare for the crypto market’s reaction to upcoming Federal Reserve decisions.

“Zodia Custody, an arm of Standard Chartered, is providing digital asset custody services to financial institutions in Singapore in response to the burgeoning demand for secure crypto solutions. This expansion, spearheading fintech investments, signals crypto’s deepening roots in the financial world.”

“Institutional crypto exchange, EDX Markets, announces its partnership with Anchorage Digital, a renowned regulated crypto platform. EDX will leverage Anchorage’s financial services and infrastructure solutions for its upcoming venture EDX Clearing, aiming to integrate traditional finance structures into the digital asset landscape.”

EDX Markets, a major institutional crypto exchange, is partnering with regulated platform Anchorage Digital. The goal of this collaboration is to bridge traditional finance and the digital asset landscape with the launch of EDX Clearinghouse. This initiative aims to enhance security, governance, risk, and compliance solutions in cryptocurrency.

“As Bitcoin approaches its 2024 halving, where miners’ rewards will decrease from 6.25 BTC to 3.125 BTC, forecasts suggest a potential rally. Yet factors like regulatory changes and macroeconomic trends could significantly influence these predictions. Meanwhile, alternatives like eco-friendly BTC20 rise, adding intrigue to future market trends.”

Mark Yusko, CEO at Morgan Creek Capital Management, predicts that by 2028, Bitcoin could reach a value of $300,000, equivalent to the monetary value of gold. His prediction is based on Bitcoin’s portability, divisibility, scarcity, and halving process, which systematically reduces the reward for mining a block by 50% every four years to control new Bitcoin supply and support price growth. Despite Bitcoin’s current volatility, other experts also foresee significant price increases.

Recent market data suggest a possible stall for Bitcoin around the familiar $30,000 mark. Predicted recovery in Q4 depends on a trifecta of factors: a halt on rate hikes, Bitcoin halving, and clearing of regulatory storms, thus indicating a complex near future.

“Bitcoin soared above $31,000 indicating a recovery of investor enthusiasm after June’s bitcoin ETF filings by financial titans. Fears around inflation have eased, contributing to this recovery. British multinational bank, Standard Chartered, predicts bitcoin to reach $50,000 by 2022’s end. Major events are anticipated to influence the crypto market’s future stability.”

HSBC Hong Kong is launching its first local cryptocurrency services, offering Bitcoin and Ethereum-based exchange-traded funds (ETFs). In tandem, the bank is also introducing the Virtual Asset Investor Education Center to educate investors and mitigate potential risks associated with cryptocurrencies.

HSBC becomes the first bank in Hong Kong to enable customers to buy and sell Bitcoin ETFs, marking a significant milestone in local cryptocurrency exposure. The bank also launched the Virtual Asset Investor Education Centre to support this development and promote responsible investing.