Bitcoin Holds $30K, Standard Chartered Raises Expectations for Bitcoin Prices

Written by BTSE

July 11, 2023

Trending Tokens on BTSE:

Asset Price 24h %
Bitcoin (BTC) $30,468.2 +1.03%
Ethereum (ETH)  $1,878.81 +0.9%
Metaverse (MTV) $0.001909 +94%
Solana (SOL) $0.0315 -12.49%






(as of  3:30 AM UTC, July 11, 2023)


Bitcoin (BTC) kicked off the day again hovering just over $30k. While this doesn’t prove a significant movement for Bitcoin, it represents a small gain and shows Bitcoin’s resistance above the $30k mark. Ethereum (ETH) demonstrated a similar pattern, making small gains overnight and holding at a healthy $1.8k. 

Metaverse (MTV), the latest token to be listed on the BTSE exchange, showed impressive gains of up to 94% in the last 24 hours, proving much buzz and excitement around the listing of this token among traders has been reflected in its price. 

In other news, according to data presented by Coindesk, the number of wallets holding one or more Bitcoin has increased to its highest number ever, at 1,008,737 – good news for traders excited for further decentralization of the largest cryptocurrency by market cap. The data also shows that Bitcoin whales (Entities with holdings of more than 1,000 BTC) have experienced a decline in numbers during the same period.

British multinational bank Standard Chartered released some bullish predictions overnight too – releasing a research report forecasting that Bitcoin could hit as high as $50k by the end of the year, and $120k by the end of 2024. Although Standard Chartered has  released such reports earlier on in 2023 – in their own words – ‘We now think this estimate is too conservative, and we therefore see upside to our end 2024 target’ – leading to the increase of their end-2024 expectation of $100k.

While Bitcoin continues to hold its price, analysts predict the next big price movements are likely to arise from the upcoming CPI and PPI releases in the US in the coming days.


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