Wow, this year has passed so fast, and we have to wait for August 4th.

Standard Chartered Bank: August 4th is a key date for Biden to make a decision. If he withdraws from the campaign, it may push Bitcoin to a new high.

On July 3, according to Bitcoin.com, Standard Chartered Bank made a prediction on the price of Bitcoin as the US election approaches Election Day in November. Geoffrey Kendrick, head of the bank's foreign exchange and digital asset research department, said on Tuesday: Bitcoin is likely to hit a record high in August and then reach $100,000 on US election day. The analyst's prediction depends on whether the current President Biden continues to run for election, which the market believes will increase Trump's chances of re-election. This result is seen as favorable for Bitcoin because Trump's victory may bring policies that are more favorable to the cryptocurrency market. The analyst believes that Trump's victory may create a regulatory environment that is conducive to the growth of digital assets.

The Standard Chartered analyst also shared predictions for other election scenarios. He explained that the least likely scenario is that Biden withdraws from the campaign in late July, which could cause the price of Bitcoin to fall to $50,000 to $55,000. Kendrick stressed that August 4 is a key date for Biden to make a decision. "This is the presidential candidate registration date required by Ohio law. Therefore, if Biden is still the Democratic candidate on August 4, he will also be the Democratic candidate in the first week of November," he pointed out. In addition, the analyst also said that if Biden's Democratic replacement is highly credible, "Bitcoin prices will remain weak." Standard Chartered Bank maintained its target of $150,000 for Bitcoin by the end of the year and predicted that it will reach $200,000 in 2025.