đ Bitcoin to the Moon? Standard Chartered Thinks So! đ
Bitcoin (BTC) enthusiasts, get ready for some exciting projections! According to Standard Chartered, BTC could soar to new all-time highs by the end of 2024. The bank's global head of digital assets, Geoff Kendrick, predicts Bitcoin might hit $125,000 if Donald Trump wins the upcoming election or $75,000 under Kamala Harris.
While presidential elections often shake financial markets, this year's race may not impact Bitcoin as much as the previous Biden-Trump contest. Kendrick notes that key regulatory progress is expected regardless of who takes office, with potential changes like the repeal of SAB 121 in 2025 providing a strong boost for BTC.
Beyond politics, shifts in the U.S. Treasury market are also set to support Bitcoin's growth. The re-steepening Treasury curve and stable term premiums are building "positive momentum" for BTC's long-term price trajectory.
Standard Chartered has consistently held a bullish stance on Bitcoin, previously suggesting BTC could reach $150,000 if Trump returns to office. Increased miner profitability is another key driver, as higher returns per BTC mined enable miners to sell fewer coins while maintaining cash flow.
Stay tuned, Bitcoiners! The future looks bright for BTC. đ
