Bitcoin to Hit $150K by End of 2024?

Geoffrey Kendrick from Standard Chartered predicts BTC will reach $150K by the end of 2024.

Author

Danielle du Toit
June 07, 2024

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Here's what we've got for you today:

  • Standard Chartered Predicts Bitcoin Surge to $150,000 by End of 2024

  • Brian Kelly Forecasts Solana as Next Big ETF Candidate

  • Robinhood to Buy Bitstamp Crypto Exchange to Enable Institutional Trading in US

  • Telegram Launches In-App Currency ‘Stars’ for Digital Purchases

BTC is poised for major potential price increases, driven by both technical chart patterns and inflows into exchange-traded funds (ETFs).

  • Geoffrey Kendrick from Standard Chartered predicts BTC will reach $150K by the end of 2024 and $200K by the end of 2025, especially if Donald Trump wins the U.S. presidential election.

  • Polymarket shows a 56% chance of Trump winning compared to 36% for Joe Biden.

  • The overall sentiment for Bitcoin and the broader crypto market has improved a lot since May, mostly driven by the approval of Ethereum ETFs and bipartisan support for the crypto industry in the U.S.

Brian Kelly, a trader on CNBC's "Fast Money," predicted that Solana might be the next crypto to feature in a spot ETF in the U.S.

  • Kelly believes that Solana is likely to be the next major cryptocurrency to get spot ETF approval. He stated that Bitcoin, Ethereum, and Solana are probably the big three for this cycle.

  • Nate Geraci is much more skeptical about the immediate prospects of a spot Solana ETF, as he believes there are major regulatory milestones that Solana will have to reach first.

  • Bloomberg ETF analyst James Seyffart agrees, and suggested that a Solana ETF could be years away, and is dependent on the establishment of a CFTC-regulated market for Solana.

Robinhood is expanding its presence in the crypto industry by buying the Bitstamp cryptocurrency exchange.

  • Robinhood will purchase Bitstamp for $200 million, and the deal is expected to close in the first half of 2025 pending regulatory approval.

  • According to Johann Kerbrat, the general manager of Robinhood Crypto, the acquisition is driven by customer demand for more cryptocurrency products.

  • Bitstamp holds over 50 active regulatory licenses and registrations worldwide, and will function under its branding despite the upcoming acquisition.

Telegram has launched “Telegram Stars,” a new in-app token for purchasing digital goods and services.

  • Telegram Stars now allows mini apps to accept payments for digital services through in-app purchases on Android and iOS.

  • Developers can exchange their Stars for Toncoin (TON), the native crypto of Telegram’s "The Open Network," through Fragment.

  • Future updates will enhance Stars with additional features, like gifts for content creators and other exciting functionalities.

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