"Bitcoin's August Outlook: Escaping the Summer Slump"

Despite a wave of positive regulatory developments, Bitcoin is currently experiencing a lull in activity during the summer doldrums. Standard Chartered predicts a potential upside to its 2024 bitcoin target of $100,000, but a challenging macro backdrop may dampen bitcoin's growth in the third quarter. The cryptocurrency industry is also working to address its custody problem as institutional investors enter the market and regulatory uncertainty persists.