Wu said that according to Bitcoin com, Geoffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, predicted that Bitcoin could hit a record high in August, and the price of Bitcoin could reach $100,000 by the US election day. The analyst's prediction depends on whether President Biden can continue to participate in the presidential campaign, which the market believes will increase the chances of former President Trump's re-election. This result is considered favorable for Bitcoin because Trump's victory may bring more favorable policies to the crypto market. In addition, the Standard Chartered analyst also shared his predictions for other presidential campaign scenarios, the most unlikely of which is that Biden withdraws from the campaign at the end of July, which could cause the price of Bitcoin to fall to $50,000 to $55,000. Previously, Standard Chartered Bank predicted that the target of Bitcoin at the end of the year would be $150,000 and $200,000 in 2025.