Jeff Kendrick, global head of digital asset research at cross-border bank Standard Chartered, believes bitcoin (BTC) will hit the $200,000 mark by the end of 2025, regardless of who wins the US presidential election in 2024.
The bank executive said the Staff Accounting Bulletin-121 (SAB-121) rule, which effectively prohibits banks from holding digital assets for their customers, is likely to be repealed, inflation is likely to rise slightly, and #bitcoin exchange-traded funds (ETFs) Three factors, including positive fund inflows, could push the bitcoin price to all-time highs in 2025.
Kendrick expects SAB-121 to be repealed by both former President Donald Trump and Vice President Kamala Harris. Additionally, the Standard Chartered executive stated that a change in the leadership of the Securities and Exchange Commission (SEC) is likely, emphasizing the negative impact of SEC head Gary Gensler on the crypto industry and what his potential replacement could mean for the market.
Current Polymarket odds for the US presidential election in 2024. Source: polymarket.
The number of ETFs is likely to grow relatively quickly. Mr. #Solana is likely to be the third, Kendrick predicts. Turning to macroeconomics, the manager said:
10-year bond yields exceeded two-year yields for the first time in several quarters. Inflation expectations have risen slightly and real yields have fallen slightly.
Now, Kendrick predicts that if former President Trump manages to take the White House, the price of bitcoin will reach about $125,000 by the end of 2024, and by the end of 2025, the price of #BTC will reach an all-time high of $200,000 regardless of who is in the White House.
He also predicts the price will reach $BTC As the November election approaches, #cryptocurrency political action committees (PACs) are spending millions of dollars on campaigns in hopes of securing cryptocurrency policies and presidential candidates.
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