🚀 Are We in a Bull Market? Standard Chartered and Bernstein Reports
posted 12 Nov 2024
Analysts at Standard Chartered and Bernstein have released aligned reports predicting substantial expansion in the cryptocurrency market over the next several years.
Crypto Market Capitalization Could Reach $10 Trillion by 2026
Standard Chartered’s latest research report suggests that the total market capitalization could reach $10 trillion by the end of 2026, fueled by a favorable environment fostered by the new U.S. administration.
Standard Chartered Forecasts Crypto Market Cap Growth to $10 Trillion. Source: finance.yahoo.com
The bank anticipates regulatory shifts that could reshape the landscape, particularly focusing on the U.S. Securities and Exchange Commission (SEC). With a more pro-crypto political climate, regulators may face increased pressure to adopt a more accommodating approach to digital assets.
Jeff Kendrick, Head of Digital Asset Research at Standard Chartered, underscores that a “crypto-friendly” regulatory shift could increase market confidence and stimulate further investment.
The report forecasts a fourfold increase in current market capitalization ($2.5 trillion). Bitcoin and Ethereum are expected to remain at the forefront of the industry.
Standard Chartered reaffirmed its previous 2025 targets, with Bitcoin projected to reach $200,000 and Ethereum $10,000. The report also highlighted Solana, expecting the network’s growth and efficiency to help SOL outpace many other digital assets.
Significantly, the report also mentions the potential for establishing a U.S. Bitcoin reserve.
In an unusually strong statement for Wall Street, Bernstein analysts have encouraged investors to expand their crypto holdings as soon as possible.
“Buy everything you can”—what more could signal the start of a crypto bull market than Bernstein’s rallying cry?
Lead analyst Gautam Chhugani at Bernstein predicts that the regulatory climate will shift so dramatically under Trump’s administration that even previously cautious investors will begin embracing digital assets.
Gautam Chhugani, Bernstein. Source: oeconomico.com
MicroStrategy’s Aggressive Bitcoin Accumulation
Meanwhile, MicroStrategy, the largest corporate Bitcoin holder, continues to expand its BTC reserves, recently acquiring 27,200 bitcoins at a total of $2.03 billion, averaging $74,463 per coin.
MicroStrategy Announces Acquisition of 27,200 Bitcoins on November 11. Source: microstrategy.com
It won’t be long before we see whether this surge of optimism surrounding Trump’s return will fuel a real rally over the coming months.
With rising institutional interest, potential regulatory easing, and Bitcoin reaching historic highs at $85,000, all signals suggest a thaw from the last “crypto winter.”
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