Markets
Bitcoin could hit $150,000 by year-end if Trump wins: Standard Chartered
Chartered standard predicted a significant increase BitcoinThe BTC/USD price of , potentially reaching $100,000 as the The US presidential election approaches in November.
What Happened: Geoffrey Kendrickhead of forex and digital assets research at Standard Chartered, shared these projections in a E-mail at The Block on Thursday.
“As the US election approaches, I expect $100,000 to be reached and then $150,000 by the end of the year if Trump wins,” Kendrick said.
He highlighted the Biden administration’s recent endorsement of the spot Ethereum ETFs are a sign of pragmatism, but noted that Biden’s veto of efforts to repeal SAB 121 still positions Trump as the more crypto-friendly candidate.
Kendrick highlighted upcoming nonfarm payroll data, suggesting favorable numbers could propel Bitcoin to a new all-time high over the weekend.
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“That would pave the way to $80,000 by the end of June,” he predicted.
Sticking with his bullish outlook, Kendrick reiterated his year-end target of $150,000 and an ambitious prediction of $200,000 by the end of 2025 for Bitcoin.
He pointed out that a price of $150,000 would put Bitcoin’s market cap at $3 trillion, which is comparable to NVIDIA’s recent milestone.
Currently, Bitcoin is trading flat over the past 24 hours at $71,010, according to data from Benzinga Pro.
And after: This information and other developments in the digital asset space will be discussed at Benzinga The future of digital assets event on November 19, where industry leaders will delve into the evolving market dynamics and regulatory landscape.
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