Geoff Kendrick’s, Standard Chartered’s, head of research for digital assets, made a bold prediction. predicted Bitcoin prices could reach $150,000 in the event that Donald Trump is elected president of the United States. “As we approach the U.S. election, I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory,” Kendrick stated.
JUST IN #Bitcoin Standard Chartered estimates that the value of the Trump presidency will reach up to $150,000. pic.twitter.com/4Kaq4P0BRf
— Bitcoin Magazine (@BitcoinMagazine) June 6, 2024
This prediction is made against a background of economic indicators, political events and other factors that influence the Bitcoin market. Kendrick made it clear that there are many factors influencing the Bitcoin market. next Elections in the United States will have a significant impact on Bitcoin.
Kendrick noted also that Bitcoin may reach a record this weekend if the Friday nonfarm employment report is favorable. Bitcoin’s all-time high was set on 14 March. $73,770. He noted that a positive report on jobs could help Bitcoin reach $80,000 by the end of this month.
Forecasts highlight the important impact of political changes on Bitcoin. Over 50 million Bitcoins and crypto owners reside in the United States. As a result, the results of the presidential elections will play an important role in shaping Bitcoin’s future.
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Source: bitcoinmagazine.com