Bitcoin prepares for rally: Standard Chartered analysis

At Standard Chartered, which has published many times before, reports that Bitcoin could reach 150 thousand dollars at the end of 2024 and 250 thousand dollars at the end of 2025, analysts stated that they expect a short-term rally in the largest cryptocurrency.

Standard Chartered, the giant bank of the British, which has made many positive steps regarding cryptocurrencies in recent years, has once again published an important report on this field. Analysts led by Geoff Kendrick have stated that they expect a rally in Bitcoin regardless of US presidential elections.

In the report prepared by the unit responsible for foreign exchange and digital assets, it was stated that the increases in cryptocurrencies may increase further in the coming period, and it is thought that macroeconomic factors will be behind these movements.

“They got stronger after the Fed”

In the report in which Kendrick shared his analysis, the Fed's big discount of 50 basis points was especially mentioned and the following statements were used:

“After the Fed meeting, we saw significant increases in cryptocurrencies for the first time in a while. In fact, this situation occurred in Polymarket despite the fact that Kamala Harris had a 47% advantage of 52% against Trump. Macroeconomic developments, leaving behind the uncertainties in the US elections, prices are rising. It will be the same in the coming period. U.S. elections will be less important in the price of Bitcoin from now on, as opposed to their short past. The US elections are also important, but the macroeconomic trend takes control”