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loop. In today's episode, we'll cover Bitcoin's
predicted surge to $100K due to bank turmoil,
halving and the end of Fed rate hikes, the growing
popularity of money market funds and Standard
Chartered's prediction that Bitcoin will reach
$100K by 2024 due to SVB collapse and banking
contagion fears. Hey there, have you heard the
news? Bitcoin is set to soar to new heights,
with Standard Chartered predicting that it could
even reach $100 ,000 by the end of 2024. That's
a massive 268 % increase from current levels.
But why, you ask? Well, the crypto winter is
finally over and there are several factors contributing
to this potential surge. One of these factors
is bank turmoil, coupled with Bitcoin halving
and the end of Fed rate hikes. While there are
still some sources of uncertainty, Standard Chartered
believes that the pathway to the USD 100 ,000
level is becoming clearer. Now, speaking of uncertainty,
people are flocking to money market funds to
protect their money amidst concerns about bank
safety and turmoil. In fact, since the start
of March, $286 billion has flowed into money
market funds, the biggest month since the depths
of COVID. With their higher yields, these funds
are becoming an increasingly attractive option.
especially since the Federal Reserve has been
aggressively raising rates. While money market
funds aren't guaranteed, they do invest in the
safest and most liquid instruments. Plus, similar
accounts offered by banks are even safer, offering
FDIC insurance up to $250 ,000 per depositor.
So if you're considering investing your money
in money markets, what are your options? Well,
Bankrate has compiled a list of the eight highest
-yielding money market accounts as of Friday,
March 24. With the shift towards safe investments
that offer better returns, it's looking like
an ideal time to capitalize on these attractive
yields. Overall, with Bitcoin predicted to soar
and money markets offering enticing yields, it's
a good time to keep an eye on these trends and
take advantage of the possibilities they offer.
Hey there, today we're going to talk about the
potential future of Bitcoin. According to Standard
Chartered's Jeff Kendrick, Bitcoin has the potential
to reach USD 100 ,000 by the end of 2024. Kendrick
believes that the much touted crypto winter is
finally over. And one of the reasons for the
bullish outlook is caused by Silicon Valley Bank's
collapse last month. The turmoil caused by the
collapse quickly spread worries of a banking
contagion. which led investors to consider Bitcoin
as a decentralized, trustless, and scarce digital
asset. Bitcoin's status as a branded safe haven
asset, its perceived relative store of value,
and a means of remittance have also been crucial
factors in its rise. With key rivals to Bitcoin
losing ground, Kendrick states in the note that
Bitcoin's share of the total crypto market cap
could rise to the 50 % -60 % range up from 45
% today and from 40 % before the SVB collapse.
Furthermore, Kendrick also mentioned that Bitcoin's
recent rebound back above $30 ,000 represented
a turnaround for crypto miners. The creation
of ETFs and stablecoin regulation could also
promote investor access to the market. Lastly,
the upcoming halving in 2024, regulatory changes
and a lack of alternatives for safe haven assets.
adds further upside to the future of Bitcoin.
Kendrick concludes that while there are still
sources of uncertainty, the pathway to the USD
100 ,000 level is becoming clearer. In today's
episode, we discussed predictions that Bitcoin
will surge to $100K due to bank turmoil and the
end of Fed rate hikes. as well as the potential
impact of the collapse of SVB on the future of
Bitcoin. Thanks for listening to today's episode.
I'll see you guys at the next one and don't forget
to subscribe.