LONDON (Reuters) -Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered said on Monday, saying that the so-called crypto winter is over.Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the U.S. Federal Reserve ends its interest rate-hiking cycle and improved profitability of crypto mining, Standard Chartered (OTC:SCBFF) s head of digital assets research Geoff Kendrick said in a note. While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer, Kendrick wrote.Bitcoin has rallied so far this year, rising above $30,000 in April for the first time in ten months. Its gains represent a partial recovery after trillions of dollars were wiped from the crypto sector in 2022, as central banks hiked rates and a string of crypto firms imploded.Predictions of sky-high valuations have been commonplace during bitcoin s past rallies. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 by the end of 2022. It closed last year down about 65% at $16,500.In Monday s note, Standard Chartered said that bitcoin has benefited from its status as a branded safe haven, a perceived relative store of value and a means of remittance. Kendrick said the European Parliament s backing of the European Union s first set of rules to regulate crypto asset markets should provide a tailwind for bitcoin.JPMorgan (NYSE:JPM) said in a note on April 5 that a technical change to the bitcoin blockchain in April 2024, known as its halving , could boost its price by making it more expensive to produce, causing a positive psychological effect .JPMorgan said that cryptocurrency prices have already benefited from crypto enthusiasts interpreting the recent U.S. banking crisis as a vindication of the crypto ecosystem . Crypto supporters say stablecoins are less susceptible to runs , JPMorgan said.U.S. regulators have previously told banks to be alert for liquidity risks coming from crypto-related deposits, such as stablecoin reserves, which could be subject to rapid outflows.