Standard Chartered Bank: Bitcoin may rise to $73,000 on election day, and if the Republicans win, it could reach $125,000 by the end of the year

2024-10-28 08:37:28

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ChainCatcher news, according to Bitcoin.com News, Standard Chartered's Global Head of Digital Assets Research, Geoff Kendrick, in a recent report, predicts that the price of Bitcoin will reach $73,000 on November 5, 2024, the day of the U.S. presidential election. The report further analyzes that if Trump wins, the price of Bitcoin could rise by 4% after the election results are clear, with a cumulative increase of up to 10% within a few days.

The research team stated that if the Republican Party achieves a landslide victory in the congressional elections, Bitcoin is expected to reach $125,000 by the end of the year. In contrast, if Harris is elected president, Bitcoin may experience a short-term pullback, but it is still expected to reach a new high of $75,000 by the end of 2024. This prediction is based on daily BTC volatility levels and mainstream options strike price analysis.

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