Investors predict Bitcoin will double in early 2021

LONDON Reuters - A new Cryptocurrency Research team from Standard Chartered has predicted that Bitcoin will double in value and hit $100,000 by early next year and that it could be worth as much as $175,000 longer-term.

The bank also said it value, structurally, Ethereum, the second most traded crypto asset, at $206,000 - $35,000 ; Bitcoin would have to be near 175,000. But for that purpose to occur bitcoin would have to be worth close to $26,000 - $35,000.

As a medium of exchange, Bitcoin may become the dominant peer-to-peer payment method for the emerging cashless in a global unbanked world. Standard Chartered's new crypto research unit is led by Geoffrey Kendrick, who is also the global head of its emerging markets research said in a note sent to clients on Tuesday.

Cyclically, we expect a peak around $100,000 in early 2021 or early 2022 Bitcoin was trading at $46,024 on Wednesday after scaling a four-month high above $52,000 on Monday while Ethereum consolidated losses at 3,366.