💰 Standard Chartered Bank predicts: The outcome of the election will significantly affect the price of Bitcoin
As the 2024 U.S. presidential election approaches, Geoff Kendrick, global head of digital assets at Standard Chartered Bank, said that the results of the U.S. presidential election may have a significant impact on the price of Bitcoin.
According to analysis by Standard Chartered Bank, if Trump returns to power, the price of Bitcoin may surge to $125,000; if Harris is elected, the price of Bitcoin may reach $75,000.
Kendrick also said that no matter who wins the election, the market generally expects that key regulatory reforms will make progress. In particular, SAB 121, the strict accounting policy implemented by the U.S. Securities and Exchange Commission (SEC) on banks’ digital asset holdings, may be repealed in 2025, which will have a positive impact on the Bitcoin market.
Although Trump is considered the more crypto-friendly candidate, the Standard Chartered report states that the Harris administration will not hinder the development of Bitcoin, although it may slow down the pace of regulatory reform.
In addition to the election results, Standard Chartered believes that changes in the U.S. Treasury market will also have a significant impact on Bitcoin prices. Currently, the steepening trend in the Treasury yield curve creates favorable conditions for Bitcoin’s long-term growth.
At the same time, Standard Chartered also expects political, regulatory and economic changes to support Bitcoin's rise in the coming months.
🗣️Opinion:
Just a few days ago, the Bernstein Report predicted that Trump's election could push Bitcoin to $90,000 by the end of the year, while Harris's election could cause the price to fall to $30,000. Now, Standard Chartered Bank has given different expectations, believing that Trump's election may push the price of Bitcoin to US$12.50,000 by the end of the year, and Harris's election may push it to US$7.50,000.
Regarding these forecasts, the view is that investors should remain calm and avoid blindly following media reports or market FOMO sentiment. Because in the investment market, having the ability to think independently is the key to profitability and long-term survival.
Therefore, for various predictions and analysis, we can refer to it, but more importantly, form our own opinions and strategies.
💬 Do you think the election results will really have such a big impact on the price of Bitcoin? Leave your opinion in the comment section!
