© Reuters.
Investing.com – The bank predicted it could reach $50,000 this year and $120,000 by the end of 2024 due to additional growth potential. writes Business Insider.
An increase in the value of BTC may occur due to a reduction in sales of bitcoins by miners.
The bank’s initial forecast indicated a possible growth of the token to $100,000, but then it was increased due to the profitability of miners.
The $120,000 price tag is valid and represents nearly 300% upside potential from current levels.
This optimism is due to the increase in mining profitability by selling fewer tokens to maintain the same amount of cash flow, which leads to higher prices.
— Materials from Business Insider were used in preparation
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2023-11-27 14:39:00
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