By the end of 2024, Bitcoin's value might increase to as much as $100,000,

according to a report released on Monday by Standard Chartered.

According to Standard Chartered analyst Geoff Kendrick in the note, the failure of Silicon Valley Bank 

U.S. institutions has strengthened the argument for bitcoin as a "decentralised, trustless, and scarce digital asset."

In the research titled "Bitcoin — Pathway to the USD 100,000 level," Kendrick said that "we see potential for Bitcoin (BTC) 

USD 100,000 level by end-2024, as we believe the much-touted "crypto winter" is finally over.

the current stress in the traditional banking sector is highly conducive to BTC outperformance 

Given these benefits, "we believe BTC's share of the total market cap of digital assets could move into the 50-60% range