Standard Chartered has reiterated its forecast that Bitcoin will reach new records by the end of 2024, regardless of the outcome of the US election. The bank’s head of digital assets predicts that Bitcoin could reach $125,000 under Trump or $75,000 under Harris, with temporary dips under Harris. Regulatory concerns remain, but other factors, such as movements in the US Treasury yield curve, provide a positive outlook.
Jeff Kendrick, the bank’s global head of digital asset research, explained that while the election result will impact the crypto market, the impact will be smaller than previously expected. He emphasized that despite the different effects of a Trump or Harris presidency, Bitcoin’s trajectory remains strong.
He also mentioned:
“A Harris win would likely cause an initial price decline, but we expect the declines to be bought out as the market realizes that regulatory progress is on the way and other positive factors prevail.”