The "Crypto spring" is becoming more of a possibility as Bitcoin is expected to reach the six-digit mark by the end of 2024.
The prediction coincides with earlier reports from Standard Chartered after the cryptocurrency doubled this year and is expected to grow up to $100,000 soon.
Bitcoin surged 130% this year alone after a huge drop following a hardware price hike last year that many investors called the "Crypto winter."
The digital currency's last record high was $69,00 back in November 2021.
Despite current controversies at the forefront of the market, investors are optimistic that Bitcoin will not suffer another drought soon next year.
Controversies in the Crypto Business
The year 2022 and early months of 2023 marked the most scandals around cryptocurrency.
Leading crypto exchange market FTX and Binance faced multiple criminal charges concerning their businesses inside and outside the US.
FTX, formerly one of the world's biggest crypto exchanges, filed for bankruptcy after its CEO and founder Sam Bankman-Fried was found guilty on seven counts of fraud and conspiracy.
Bankman-Fried himself is facing 115 years in prison. He is currently awaiting his sentencing in March.
Just weeks after, FTX's biggest competitor Binance pleaded guilty to violating the Bank Secrecy Act and agreed to pay a $4.3 billion settlement with the Department of Justice.
Its founder Changpeng Zhao also pleaded guilty and stepped down as CEO. Zhao is also facing prison time with his sentencing scheduled for February.
Also Read: Binance CEO Steps Down, to Pay $4.3B Settlement for Federal Charges
Investment Outlooks in Binance for 2024
Investors believe the FTX and Binance scandals are the last huge blotch for the crypto business in the foreseeable future.
David Marcus, CEO of Lightspark and a top investor in Bitcoin, told CNBC that the time is ripe for "real builders" to shape up the industry rather than as a "giant digital casino for people to trade."
Other Bitcoin markets have already seen this surge as their shares sprang up after FTX and Binance were exposed. Among those is Coinbase whose stocks rose 60% this year.
Related Article: Coinbase Shares Jump 60% Following FTX, Binance Controversies
