According Geoff Kendrick of Standard Chartered, the head of crypto research, believes that a Donald Trump presidency in 2024 could push Bitcoin as high as $125,000. Kendrick says that Bitcoin will likely reach new highs no matter the outcome of the presidential election. If Vice President Kamala Harris wins, Bitcoin is expected to be at $75,000.
Kendrick explains in his new report that although the results of the elections will have an impact on the Bitcoin industry the dangers of a Harris Presidency may be exaggerated. “BTC will end 2024 at fresh all-time highs under either election outcome – [circa] $125,000 level under Trump or c.$75,000 level under Harris,” Kendrick wrote. He noted that while a Harris victory could result initially in a decrease in price, it is important to remember the following: “dips would be bought as the market recognizes that progress on the regulatory front will still be forthcoming.”
Kendrick, despite industry concerns that Harris could adopt a more antagonistic stance towards Bitcoins, believes that Kendrick’s administration would be “much less negative” Digital assets are more important than another Biden Administration. Standard Chartered has also maintained its bullish forecast, predicting that Bitcoin would reach $200,000 by 2025 no matter who won this year’s presidential election.
In the 2024 elections, the candidates’ differing views on Bitcoin regulations have been brought to light. Trump is now an ally of the Bitcoin industry. He spoke at the Bitcoin 2024 Conference in Nashville, Tennessee, this summer and expressed his support for Bitcoin. The Republican National Committee also has included Bitcoin is a part of its platform. It pledges to protect the self-custody and defend mining rights.
Kamala Harris, the Vice-President, has been silent. opting not Attend the Bitcoin Conference. The Democratic Party platform is not a suitable basis for voting. no mention The industry is concerned about the possible regulatory environment in a Harris Administration. Harris is not known to be hostile towards crypto. However, many fear that she will follow the same stricter regulations as President Joe Biden. This was largely influenced by people like Elizabeth Warren and Gary Gensler of SEC.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com