Trump Presidency Could Push Bitcoin to $125K, Harris to $75K: Standard Chartered
Investment Bank Standard Chartered analyst Geoff Kendrick expects Bitcoin to reach new highs this year regardless of the US election.
Kendrick told Standard Chartered on September 12 that “positive drivers dominating regardless of the election outcome” might push Bitcoin to new highs by 2024. He said:
Whatever happens, I expect Bitcoin will conclude the year at new all-time highs, with Trump winning at $125,000 and Harris at $75,000.
Kendrick also remarked that Bitcoin's future is less affected by the U.S. presidential race than when Joe Biden was running.
Trump-Harris: How Does the Election Affect Bitcoin?
Notably, former President Donald Trump's opinion on cryptocurrency has changed. After calling Bitcoin a "scam," he changed his mind.
Trump has previously lambasted the Biden Administration for its severe attitude on Bitcoin and cryptocurrencies, preferring to make the US the worldwide “crypto capital” if re-elected.
His kids' future crypto platform, World Liberty Financial, has received his latest endorsement.
Critics say Vice President Kamala Harris's ties to the Biden administration may hurt her crypto community connections. Kendrick said this “would likely trigger an initial price decline” if she were elected.
Reports imply that Vice President Kamala Harris may be more receptive to digital assets than Joe Biden, although she has not released a policy framework.
Kendrick advised investors to “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.”
As gamblers predict the next U.S. president, Kamala Harris and Trump are tied at 49% odds on Polymarket.
What Will Drive Bitcoin Higher?
Kendrick credited Bitcoin's price surge to “progress on relaxing regulations”.
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