Standard Chartered’s new Bitcoin and crypto research team has predicted a $100,000 price target by early 2022, Reuters reported.

The team also predicted Bitcoin could reach $175,000 “longer term”.

The head of Standard Chartered’s new Bitcoin and crypto research unit, Geoffrey Kendrick, told clients in a note on Tuesday: “As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world.”

“Cyclically, we expect a peak around $100,000 in late 2021 or early 2022,” Kendrick concluded.

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