Standard Chartered, a major financial institution, has predicted that Bitcoin could reach as high as $100k before the US presidential elections and continue to $150k if Donald Trump is elected. Geoff Kendrick, the head of digital assets research at Standard Chartered, made this bold price projection. This prediction aligns with other estimates that Bitcoin could reach anywhere between $100,000 and $300,000 by the end of the current bull market.
The current US elections and the potential impact of Donald Trump’s presidency on the cryptocurrency market are also factors influencing Standard Chartered’s prediction. Trump has been courting crypto users by promising tax breaks and less regulation for the crypto economy. However, it remains to be seen how his actions would align with his promises, given his anti-Bitcoin stance during his previous term.
The $100k prediction before the US elections is seen as realistic due to the country being at the end of its liquidity crunch cycle and expected interest rate cuts. The current market conditions, characterized by volatility and investors seeking safe havens, play a crucial role in the price movement of Bitcoin. The recent battle around the $70k price level and the potential for a new All-Time High (ATH) above $73.5k indicate a positive trend towards reaching the $100k price target.
Overall, Standard Chartered’s bullish prediction for Bitcoin reflects the growing confidence of major financial institutions in the premier cryptocurrency. With the potential influence of the US elections and Donald Trump’s crypto-friendly promises, the path towards a $100k price milestone seems promising. As the crypto market continues to evolve, investors and analysts will closely monitor these developments to assess the accuracy of such bold predictions.
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