If Trump is elected president, Bitcoin is expected to reach $150,000, Standard Chartered predicts.
In a bold prediction, Geoff Kendrick, head of digital assets research at Standard Chartered, predicted that Bitcoin could surge to $150,000 if Donald Trump wins the upcoming US presidential election. “As the U.S. election approaches, I expect it to reach $100,000 if Trump wins and $150,000 by the end of the year,” Kendrick said.
Just came in: #Bitcoin If Donald Trump is elected president, it could reach $150,000, Standard Chartered said. pic.twitter.com/4Kaq4P0BRf
— Bitcoin Magazine (@BitcoinMagazine) June 6, 2024
These predictions are made against the backdrop of economic indicators and political developments affecting the Bitcoin market. Kendrick emphasized that the next important driver for Bitcoin price will be the US election.
Kendrick also noted that Bitcoin could hit a new record over the weekend if the non-farm payrolls report due out on Friday is favorable. Bitcoin’s current all-time high is $73,770, set on March 14. He said a positive jobs report could pave the way for Bitcoin to reach $80,000 later this month.
This forecast highlights the significant impact political developments could have on the Bitcoin market. With over 50 million Bitcoin and cryptocurrency holders in the United States, the outcome of this presidential election is poised to play a major role in shaping Bitcoin’s future.
