Standard Chartered: ETH Could Hit $10K by Next Year’s End if Trump Wins U.S. Election
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Standard Chartered: ETH Could Hit $10K by Next Year’s End if Trump Wins U.S. Election In a bullish outlook for the cryptocurrency market, Standard Chartered has released a note predicting that Ether (ETH) could surge to as high as $10,000 by the end of next year. According to DL News, Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, attributes this potential 300% rise in Ether’s price to a Donald Trump victory in the upcoming U.S. presidential election. Kendrick’s analysis highlights several key drivers that could propel ETH to new heights, including increased interest in Ethereum futures and a surge in institutional investment. Introduction to Standard Chartered’s ETH Forecast Overview of the Prediction Standard Chartered’s recent analysis suggests a significant upward trajectory for Ether, contingent on favorable political outcomes in the U.S. election. The bank’s forecast is built on the premise that a Trump victory would create a conducive environment for cryptocurrency growth, particularly for Ethereum. This optimistic projection underscores the interplay between political dynamics and cryptocurrency market performance. Key Drivers Behind the ETH Surge Donald Trump’s Potential Victory: Kendrick posits that a Trump win could lead to regulatory and economic policies that favor cryptocurrency adoption and investment. Rising Interest in Ethereum Futures: Increased trading and investment in Ethereum futures contracts are expected to boost ETH’s market value. Institutional Investment Growth: Anticipated growth in institutional participation could provide the necessary capital influx to drive ETH prices higher. Detailed Analysis of Factors Influencing ETH’s Potential Rise Donald Trump’s Influence on Cryptocurrency A Trump administration is perceived by some analysts as more favorable towards deregulation and fostering innovation within the cryptocurrency sector. Kendrick suggests that policies supporting technological advancements and financial market freedom could enhance Ethereum’s appeal to both retail and institutional investors. Ethereum Futures and Market Sentiment The…
Filed under: News - @ November 1, 2024 4:24 pm