Bitcoin Price Projections: Standard Chartered Suggests Possible Rise to $125,000 or $75,000 Depending on Election Outcomes
The post Bitcoin Price Projections: Standard Chartered Suggests Possible Rise to $125,000 or $75,000 Depending on Election Outcomes appeared on BitcoinEthereumNews.com.
Recent analysis from Standard Chartered suggests Bitcoin could surge to $125,000 by year-end, depending on the outcome of the upcoming U.S. elections. The bank predicts that a Republican sweep would likely lead to favorable regulations for the crypto sector, impacting Bitcoin’s market trajectory significantly. Geoff Kendrick, Standard Chartered’s head of digital asset research, indicates that even under a Harris presidency, Bitcoin may reach $75,000, reflecting a shift in attitude towards cryptocurrency. Standard Chartered predicts Bitcoin could reach $125,000 if Republicans win the U.S. elections, regardless of a Harris or Trump presidency. Bitcoin’s Price Predictions Amidst U.S. Election Outcomes According to the latest insights, Bitcoin’s price volatility is closely tied to the political landscape in the United States. A recent note from Standard Chartered reveals that should Republicans gain control of both the Senate and the House—and the presidency—the legal and regulatory environment for cryptocurrencies might enhance significantly. Such political developments can instill confidence in the market, leading to higher investments in digital assets like Bitcoin. This potential outcome is perceived as the catalyst for Bitcoin reaching an impressive $125,000 by the end of the year. Republican Advantages and the ‘Trump Trade’ Phenomenon The “Trump trade” is a term gaining traction among traders who believe that a victory for former President Donald Trump would trigger a rapid increase in Bitcoin’s value. As noted by Bernstein analysts, predictions have shifted substantially from earlier forecasts; they initially suggested a potential peak price of $90,000 with Trump’s return, contrasting sharply with a predicted decline to $30,000 under a Harris administration. Some analysts view Trump’s pro-crypto stance as the driving force behind a bullish market sentiment ahead of the elections. Impact of Kamala Harris’s Presidency on Bitcoin Despite her previous reticence on cryptocurrency issues, Vice President Kamala Harris has indicated her administration’s intent to promote…
Filed under: News - @ October 25, 2024 8:21 pm