đ Bitcoinâs Surge to $100K Before US Election Predicted by Standard Chartered
â Bitcoin may hit $100,000 before the US election, driven by positive U.S. job data.
â Geoff Kendrick forecasts $150,000 for Bitcoin by year-end if Trump wins.
â Approval of ether ETFs under Biden contrasts with Bitcoinâs potential under Trump
Standard Chartered Bank analyst Geoff Kendrick predicts that before the next US presidential election, Bitcoinâs value will rise significantly and may perhaps hit $100,000. Positive results from the U.S. Non-Farm Payrolls data are expected to drive Kendrickâs estimate, which suggests that Bitcoin may reach a record high this coming weekend.
đ¸ Anticipated Market Trends
According to Kendrick, if Trump wins the US presidential election, Bitcoin might hit $150,000 by yearâs end. It might also reach $100,000 before the election. He backs this up with an analysis of the Trump administrationâs position on cryptocurrencies and a comparison to Joe Bidenâs.
đ¨ BREAKING: Bitcoin's Bull Run Ahead of US Elections! đ
Standard Chartered predicts Bitcoin could hit $100,000 before the US elections! đ°đ¸
Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, sees $BTC soaring to new heights as the⌠â YG crypto
The analyst highlights the recent approval of spot ether ETFs by the Biden administration, juxtaposed with Bidenâs vetoing of efforts to repeal SAB 121. These contrasting actions suggest to Kendrick that Trump remains more favourable towards the crypto market.
đ¸ Market Implications
Kendrickâs predictions also encompass a potential rise to $80,000 by the end of June, alongside a steadfast year-end projection of $150,000 for Bitcoin. Notably, achieving the $150,000 mark by the conclusion of 2024 would position Bitcoin among the elite $3 trillion market cap club, mirroring NVDAâs recent achievement.
Bitcoinâs current trading standings at $70,810 at the time of writing, indicates a market poised for significant fluctuations as per Kendrickâs analysis.
$BTC #BTC #Bitcoin
