Analysts of the British giant Standard Chartered, which has published many positive reports on cryptocurrencies in recent periods, think that the US elections will play an important role in the price movement. According to the latest bank report, Bitcoin may rise further as Donald Trump's probability of winning the election increases, and it may even break a record in August. It was stated that Biden's withdrawal from the election race could bring a sharp decline in Bitcoin.

Standard Chartered, one of the world's largest investment banks serving globally, has published a new cryptocurrency analysis. According to the report written by analysts led by Geoffrey Kendrick, the bank's foreign exchange and digital assets manager, Bitcoin may break a record in August.

“100 thousand dollars in November with the US elections…”

Following the record set in August, bank analysts expect the largest cryptocurrency to reach 100 thousand dollars at that time, with the US elections approaching in November. However, it should be noted that this scenario of analysts is mostly based on Joe Biden remaining in the race.

“If Biden withdraws, Bitcoin can go to $50 thousand”

Analysts stated that if Biden withdraws from the presidential elections and a person like Michelle Obama, who is supported by the public, becomes a candidate, Bitcoin may even drop to 50 thousand dollars in the short term. The bank's report stated that there is a "low probability" that Joe Biden will withdraw from the race.

As it is known, in the USA, Donald Trump is currently perceived as a "Bitcoin-friendly presidential candidate"... However, the same is not the case for Biden. The Biden government's negative attitude towards cryptocurrencies through government institutions, especially the SEC, was receiving great criticism.

Why might Biden withdraw?

It is stated that Joe Biden, who is expected to be the Democratic presidential candidate in the USA in recent days and is currently the president, may withdraw from the race due to health problems. Last week's debate between Trump and Biden on CNN was also talked about a lot and the public saw the program as "Trump's victory".

Biden's difficulty in speaking in some situations, his confusion of words and his inability to say exactly what he wanted led to increased rumors that he might withdraw from the race.

Biden said later, “Maybe I can't talk as fast as I used to or I can't stand for long, but I have the capacity to govern the state. "It is obvious what I have done," he said.

Trump's court process, also known as the "hush-share case", continues. Although the court is not expected to issue a prison sentence, there is still such a danger for Trump...

- Uzmancoin

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