đđWill there be a Trump Rally in Bitcoin? Expecting 150 Thousand Dollars in BTC, Standard Chartered Announced! đđ
UK-based giant bank Standard Chartered increased its expectation of a rise in the cryptocurrency market by increasing its Bitcoin price forecast for the end of 2024 to $150,000. The bank suggested in a new report that its possible victory could have positive implications for Bitcoin and cryptocurrencies.
According to Coindesk, Standard Chartered stated that the risk of US financial dominance has increased as the FED monetizes government debt, and therefore investors are looking for alternative assets. He emphasized that this scenario of increased financial risk will be supportive for Bitcoin and cryptocurrencies.
âIn a scenario where the risk of US fiscal dominance increases, we think Bitcoin would provide a good hedge against de-dollarization and diminished confidence in the US Treasury market. In addition to BTC's passive support from de-dollarization, a second Trump administration would consider looser regulations and spot ETFs.â We expect it to actively support BTC through
He stated that Bitcoin can provide protection against de-dollarization and can be considered as an alternative investment tool. He also noted that looser regulations and the approval of Bitcoin spot ETFs could increase Bitcoin's value.
The report reiterated that the 2024 year-end target for Standard is 150,000 dollars and the 2025 target is 200,000 dollars. These forecasts reflect long-term bullish expectations in the cryptocurrency market and indicate that the adoption of Bitcoin as an alternative investment tool will increase.
These developments are important for Bitcoin's future performance and trends in the cryptocurrency market. Investors should take into account risks and fluctuations in the cryptocurrency market when shaping their portfolios based on such forecasts.
