Standard Chartered Report: Bitcoin May Reach New Highs by Year-End, Limited Impact from U.S. Election Results

2024-09-12 19:06:26

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ChainCatcher news, Standard Chartered's Head of Foreign Exchange and Digital Assets Research, Geoff Kendrick, stated in a recent analysis report that regardless of the outcome of the U.S. presidential election, Bitcoin prices are expected to reach new all-time highs by the end of 2024. Kendrick predicts that if Trump wins, Bitcoin could reach $125,000; if Harris is elected, the price could reach $75,000.

Kendrick emphasized that the impact of the U.S. election on Bitcoin's future trends is relatively small compared to market expectations. He pointed out that positive changes in the regulatory environment are one of the key factors driving the growth of Bitcoin prices. Regardless of who occupies the White House, the process of relaxing digital asset regulations (especially the repeal of SAB 121) is expected to continue advancing in 2025.

Additionally, Kendrick mentioned that the development of the U.S. Treasury market provides favorable conditions for Bitcoin's long-term trends. He anticipates a seasonal rebound in capital inflows for spot Bitcoin ETFs in October.

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