Standard Chartered predicts Bitcoin could hit all-time high in August

Bitcoin could hit a new all-time high in August, followed by a rise to $100,000 by the US presidential election in November, according to Standard Chartered.

On Tuesday, Standard Chartered Bank's head of foreign exchange and digital assets research, Geoffrey Kendrick, said that "a new all-time high is likely for bitcoin in August, and then $100,000 by US election day." ".

Kendrick's prediction depends on Joe Biden remaining in the race for the US presidential election, a scenario that the market perceives as favorable to a victory for Donald Trump.

The Standard Chartered analyst considers Trump a “positive for Bitcoin” and indicated that there is a positive correlation between the former president's electoral chances and the price of Bitcoin. "The logic here is that both regulation and mining would be viewed more favorably under the Trump administration," Kendrick added.

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