Standard Chartered Bank, a major investment bank, has recently published a report entitled “The Future of Investment Banking: A Guide to the New World Economy”. bullish report Bitcoin prospects. BTC trades currently at $57.800, after having reached a new high of $73,737 back in March.
The ATH occurred at a point when the US Securities and Exchange Commission, or SEC, approved the Bitcoin ETF. As a result, there was a flurry of investment from management funds worth trillions, such as Greyscale Fidelity and BlackRock.
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Standard Chartered is bullish about Bitcoin price prediction
Standard Chartered predicted that Bitcoin would reach $125,000 per coin if Donald Trump was reelected as President. Standard Chartered also predicted that BTC could reach $75,000 under Kamala if she won the White House.
Geoff Kendrick – the head of global digital assets research at the bank – explained how both Trump’s view and Harris’s can influence Bitcoin’s future as regulatory concerns are looming.
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Kendrick said that Bitcoin’s price could temporarily drop if Harris is elected. He did say that eventually it would scale back up the charts. Investors will use the drop to buy it at a lower price. He said that if Trump won, BTC would start a bullish trend and could reach six-digit indices.
“A Harris victory would likely trigger an initial (Bitcoin) price decline. But we would expect dips to be bought. As the market recognizes that progress on the regulatory front will still be forthcoming, and as other positive drivers take hold,” He said.
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“It seems clear that a Trump victory would be BTC positive,” He said. “A Harris administration would be much less negative for digital assets than a second Biden administration would have been,” Kendrick said. Accordingly, the next Presidential election is crucial to Bitcoin as well as the wider cryptocurrency and stock markets.
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Source: watcher.guru