Bitcoin Could Hit $200,000 Regardless of Who Wins the US Presidential Election
Geoff Kendrick, an expert from the famous Standard Chartered bank, said that Bitcoin has a chance to hit $200,000 by the end of 2025 regardless of who wins the 2024 US presidential election. According to Kendrick, there are 3 factors that could push BTC price to a new record high in 2025:
1) The possibility of removing SAB-121: a rule that prevents banks from holding digital assets for customers. Kendrick expects SAB-121 to be repealed by both Donald Trump and Kamala Harris.
2) Inflation increases slightly and interest rates continue to fall. Kendrick points out the positive signal as the 10-year bond yield is now higher than the 2-year bond yield for the first time in 2024.
3) Positive inflows into Spot BTC ETFs in the US. He also expects more Crypto ETFs in the near future, the most promising of which is the Spot SOL ETF.
