Analysts forecast Bitcoin to reach $100,000 by the end of 2024.

By the end of 2024, the price of the leading cryptocurrency could reach $100,000, according to Standard Chartered. Reuters reports.

Analysts note the end of the crypto winter. In their view, Bitcoin will benefit from turmoil in the banking sector and a number of other factors. Jeff Kendrick, head of the digital assets research at Standard Chartered, attributed the end of the US rate-hiking cycle and higher mining profitability.

“Although sources of uncertainty remain, we believe that the path to the $100,000 level is becoming clearer,” the note says.

At the time of writing, Bitcoin was trading above $27,370. In the last 24 hours, the asset had fallen 0.8%, according to CoinGecko.

In April, the author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki called the leading cryptocurrency “the people’s money” and allowed for a rise in its price to $100,000.

Earlier, he repeated his forecast of the “greatest crash in history” and predicted Bitcoin at $500,000 by 2025.

In March, Messari CEO Ryan Selkis predicted a movement to $100,000 for digital gold within 12 months. Major players interviewed by CNBC made similar forecasts.