![]() ![]() US lawmakers are locked in a standoff over the need to raise the government's borrowing limits and if they don't reach an agreement before June, the country could fail to meet some upcoming payment obligations. He also recently told Insider that the coin could jump nearly 70% if the US defaults on its debt. "Against this backdrop, bitcoin has benefited from its status as a branded safe haven, a perceived relative store of value and a means of remittance," Kendrick said. In addition, bitcoin gained some safe-haven appeal during the recent banking turmoil, thanks to its decentralized nature, and has also gained from the declines of some of its key rival tokens. The prospect of a quadrennial halving of bitcoin supply in 2024 is also acting as a support. ![]() Expectations that the Federal Reserve's interest-rate hikes are nearing an end is one - the central bank's policy tightening had a lot to do with last year's selloff. Multiple factors are favoring the token now, according to Standard Chartered. ![]() ![]() "We see potential for bitcoin to reach the USD 100,000 level by end-2024, as we believe the much-touted 'crypto winter' is finally over," the bank's head of research wrote in a note last week. ![]()
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