Bitcoin to reach $200,000 by end of 2025 regardless of US elections
Jeff Kendrick, head of digital asset research at Standard Chartered, believes that the Bitcoin rate will not depend on the outcome of the US presidential elections. Regardless of the outcome, the price of the flagship asset will rise to $200,000 by the end of next year.
According to Kendrick, there are three factors that could drive the price of bitcoin to new all-time highs in 2025. Among them is the repeal of SAB-121, the rule that prohibits banks from holding digital assets for customers. Kendrick expects SAB-121 to be repealed by any elected U.S. president. In addition, he is confident that changes are coming to the leadership of the US Securities and Exchange Commission. Then the negative influence of the agency's chairman Gary Gensler on the crypto industry will noticeably decrease.
He predicted that by the end of 2024 the price of Bitcoin would reach almost $125,000 if ex-President Donald Trump again took the post of head of the White House. However, the rate of the flagship currency will rise to $200,000 by the end of 2025, âregardless of who is in the White House.â
