$200,000 Bitcoin By 2025? Bank Exec Says Election Won’t Stop Crypto’s Surge
The post $200,000 Bitcoin By 2025? Bank Exec Says Election Won’t Stop Crypto’s Surge appeared on BitcoinEthereumNews.com.
An executive of Standard Chartered, Geoffrey Kendrick, has drawn attention in recent days in finance circles with an extremely vivid declaration that Bitcoin may reach $200,000 at the end of 2025. This time, against a backdrop of increased interest in cryptocurrencies and increasing institutional investment, he remains optimistic on several factors that, he believes, will drive demand for Bitcoin, regardless of external economic conditions or the upcoming US presidential election. Drivers Behind The Prediction Kendrick claims that a number of factors could propel the price of BTC to previously unheard-of heights. The first is institutional investors’ acceptance of Bitcoin as a valid asset class. Capital worth millions of dollars has already poured into the recently launched Bitcoin ETFs. In fact, over $14 billion have entered Bitcoin ETFs since these products debuted. This, of course, will not only fill the crypto market with liquidity but also shed more light upon its credibility as an alternative investment. “#Bitcoin to Hit $200K THIS Cycle Regardless of Election” – Bank Exec Live 4pm ET: https://t.co/JhOlAKIMjH — Crypto News Alerts 🔥🎙 (@CryptoNewsYes) September 21, 2024 Additionally, Kendrick highlights the potential impact of macroeconomic trends. He suggests that the Federal Reserve’s interest rate cuts in 2024 could create a more favorable environment for risk assets like cryptocurrencies. Lower rates typically lead to increased borrowing and spending, which can drive up demand for assets perceived as stores of value, such as Bitcoin. The Bitcoin Halving Although the prediction made by Kendrick is immune to politics, the fact that Bitcoin got halved in April 2024 was another crucial factor affecting the moving parts of the market. Obviously, one can clearly derive from the reduction in the mining reward from 6.25 BTC to 3.125 BTC that there will be less new coins entering the system moving forward. BTCUSD trading…
Filed under: News - @ September 22, 2024 7:03 pm