Bitcoin will surge 115% from current levels to $100K either late this year or early next year, and could reach $175K in the long term, Standard Chartered's crypto research team has forecast.

The bank's team said it "structurally" values bitcoin between the range of $50K to $175K. "Cyclically, we expect a peak around $100K in late 2021 or early 2022," they shared.

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