Standard Chartered analyst predicted BTC and ETH to rise to $100 000 and $10 000 in 2022

Geoffrey Kendrick, the head of crypto research at the bank, believes Ethereum can reach the $35 000 mark in the future

30.04.2022 - 07:45

180

2 min

What’s new? Bitcoin and ETH will rise to $100 000 and $10 000 respectively in 2022, according to Geoffrey Kendrick, the head of crypto research at the British bank Standard Chartered. In an interview for Business Insider, he said that Ethereum can reach the $35 000 mark in the long term. Also, the analyst named two promising altcoins, Polkadot (DOT) and Avalanche (AVAX).

Business Insider’s material

What else did Kendrick say? He compares cryptocurrencies to stocks of technology companies in the late 90s. The analyst stressed that he was not yet using digital assets as they may blow up as the “tech bubble of 2000 eventually popped.”

According to Kendrick, bitcoin can reach the upper end of its predicted price if the cryptocurrency eventually becomes a globally recognized store of value. Ethereum should benefit from an upcoming upgrade and switch to Proof-of-Stake (PoS). The final Kiln testnet was launched in March. This is the last public test network before the move to PoS.

What happened before? Celsius Network CEO Alex Mashinsky predicted record growth in the rates of major cryptocurrencies. In his view, in 2022 BTC will break the $60 000 mark and ETH the $4500 mark.

Also, the former CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, said that by 2030 the price of bitcoin could reach $1 million. One of the triggers for the first cryptocurrency’s rise in price will be inflation, Hayes claims.

Author: