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Geoff Kendrick: Bitcoin at or above $100,000 on Dec 31, 2024

Geoff Kendrick's prediction that Bitcoin would be at or above $100,000 on December 31, 2024 did not come true. The close on the deadline decided this call: Bitcoin closed at $93,354 on December 31, 2024, the deadline, 6.6% below the target. Geoff Kendrick made the call on CNBC on July 10, 2023, when Bitcoin was at $30,168. The target needed a 231% rise in one year and six months.

Updated

What was said

Photo of Geoff Kendrick
Geoff Kendrick

Global Head of Digital Assets Research, Standard Chartered

CNBC, Jul 10, 2023SourceArchive

15 predictions · 3 hit · 4 missed · 8 open

Photo: Cointelegraph, CC BY 3.0

We now think this estimate is too conservative, and we therefore see upside to our end-2024 target of around $100,000.

Kendrick said lower selling by miners would reduce bitcoin supply reaching the market. The firm had earlier estimated that this driver would add USD 10,000 to the bitcoin price, and he said that estimate now looked too conservative.

How we checked this

MissedDeadline

Price when said
$30,168 closeprice data
Target
$100,000+231%
Close on the deadline
$93,354price data

The close of the last trading day on or before Dec 31, 2024 decides: the prediction comes true if that close is at or above $100,000. Prices are daily closes in UTC, not intraday highs.

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