Standard Chartered has made bold predictions for Bitcoin, foreseeing a potential new all-time high in August followed by a surge to $100,000 by the US presidential election in November. According to The Block, analysts at the bank have adjusted their forecast, previously set at $150,000, emphasizing a bullish outlook driven by political outcomes.
Geoffrey Kendrick, head of foreign exchange and digital assets research at Standard Chartered, authored the report detailing these projections. He asserts that if Donald Trump secures victory in the election, it could favorably influence Bitcoin due to anticipated favorable policies on regulation and mining. Conversely, Kendrick suggests that Joe Biden withdrawing from the race would be the least likely scenario, potentially dampening Bitcoin prices to $50,000-55,000.
Earlier this June, Standard Chartered set year-end targets of $150,000 for Bitcoin in 2024 and $200,000 by the end of 2025. Kendrick underscores the importance of achieving the $150,000 mark by the close of this year, reiterating their optimistic stance on Bitcoin’s trajectory.
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