Standard Chartered boosts 2024 bitcoin forecast to $120,000

The value of top cryptocurrency $Bitcoin(BTC.CC)$ could reach $50,000 this year and $120,000 by the end of 2024 $STANCHART(02888.HK)$ said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply.
Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one of the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call.