Minority Mindset

Smart investments

Crypto News

Bitcoin Could Hit $125K by Year-End if Trump Becomes President, $75K if Harris Triumphs: Standard Chartered

Sep 11, 2024
  • Bitcoin is going to break out to new highs by year-end irrespective of who wins the U.S. election, the report said.
  • The bank said bitcoin could reach $125,000 if Trump wins and $75,000 if Harris triumphs.
  • Standard Chartered said positive catalysts such as regulatory reform are expected to dominate the crypto market, regardless of the election outcome.
As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous ups and downs, bubbles, and crashes, but nothing quite like the meteoric rise of Bitcoin. Having closely followed its trajectory since its inception, I must say that I am not one to make rash predictions, but based on the latest report by Standard Chartered, it seems that we are about to witness new highs for the world’s largest cryptocurrency this year, regardless of who wins the U.S. election.By the end of the year, it’s anticipated that Bitcoin (BTC), the world’s leading digital currency, will reach a new peak, according to a report released by Standard Chartered (STAN) on Thursday. This prediction remains unchanged regardless of the outcome of the U.S. election in November.

According to the bank’s statement, while the result of the U.S. Presidential election has an impact on digital assets, it holds less significance compared to when Biden was the Democratic nominee. Moreover, it carries less importance than what the markets currently perceive.

According to a recent analysis, Bitcoin might achieve unprecedented record levels before the end of the year, regardless of who emerges victorious in the election. The predicted price if Trump wins could be approximately $125,000, whereas it may hover around $75,000 should Kamala Harris win.

The bank sees positive drivers dominating the crypto market.

Geoff Kendrick, global head of digital assets research at Standard Chartered, predicts that advancements towards easing regulations, including potential repeal of SAB 121 affecting banks’ digital asset holdings, will persist in 2025. However, he notes that the pace of progress might be slower under a Harris presidency.

As an analyst, I observed a strengthening slope in the U.S. Treasury yield curve, which appears to be generating favorable dynamics for Bitcoin.

As an analyst, I believe that if Harris emerges victorious, Bitcoin may experience an initial sell-off. However, I foresee that any subsequent dip in price would likely be seized by investors who understand that regulatory advancements will continue, though perhaps at a more gradual pace. Additionally, other positive catalysts are expected to come into play.

Read More

2024-09-12 14:48