PANews reported on October 31 that Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that due to investors closing their positions before the U.S. presidential election, the possibility of Bitcoin breaking historical highs has decreased recently, and a price correction and increased volatility may occur before November 5. Although Bitcoin's price reached $73,563 this week, it has yet to surpass the historical high of $73,700 set in March.
Kendrick pointed out that the volatility of the Bitcoin market will intensify during the election period, especially in the case of delays in the announcement of election results. Furthermore, he believes that if the Republican Party wins the election decisively, Bitcoin could rise to $125,000 by the end of the year, triggering a new wave of altcoin enthusiasm, with Solana likely to benefit significantly.
