Standard Chartered Makes Bold Prediction: Bitcoin to Reach $100K Before Election, $150K in Case of Trump Victory

Standard Chartered’s head of digital asset research, Geoff Kendrick, has made a bullish prediction for Bitcoin, expecting it to reach $100,000 as the U.S. presidential election nears, with a potential climb to $150,000 by year-end if former U.S. President Donald Trump wins. Kendrick attributes this optimistic forecast to Trump’s perceived positive stance on cryptocurrency, suggesting that his administration’s supportive regulatory environment could further fuel the cryptocurrency markets.

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Standard Chartered had previously expressed optimism about the crypto space under a potential second term for Trump, citing expectations of a more favorable regulatory environment. Additionally, the bank believes that the SEC may approve spot Ethereum exchange-traded funds (ETFs) and foresees potential ETF status for other coins like SOL and XRP in the future, possibly by 2025.

Despite initial skepticism about cryptocurrency, Trump has recognized the growing popularity of Bitcoin and has pledged to oppose President Joe Biden’s anti-crypto agenda while advocating for favorable regulations for digital assets. Alongside this, Trump has recently ventured into the non-fungible token (NFT) space, launching three NFT collections.

Furthermore, former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo has lauded Trump as America’s “first crypto president,” noting the approval of Bitcoin futures during his administration.

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Tosin Matthew is a dynamic figure in the crypto sphere, blending content creation with astute analysis. With a sharp eye for market trends and a passion for blockchain technology, Tosin delivers insightful content that educates and empowers. Trusted by audiences for expert guidance in navigating the complexities of cryptocurrency.