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Bitcoin may touch $100,000 in Q1 of 2022

  • On Wednesday, Bitcoin was trading at a little more than $46,000
  • Ethereum and Binance Coin were trading at $3,413 and $409, respectively

Standard Chartered has forecast that Bitcoin will touch the magical figure of $100,000 in the first quarter of 2022, and in the longer term, the cryptocurrency will hit $175,000.

On Wednesday, Bitcoin was trading at a little more than $46,000.  Ethereum and Binance Coin were trading at $3,413 and $409, respectively.

The London-headquartered bank has assembled a new cryptocurrency team that concluded that the second-most traded Ethereum will reach $26,000-$35,000 when Bitcoin will reach $175,000. Geoffrey Kendrick, head of the new crypto unit at Standard Chartered, said in a note that as a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world. Cyclically, we expect a peak around $100,000 in late 2021 or early 2022”.