Standard Chartered expects bitcoin to climb to $100,000 as the U.S. presidential election approaches and potentially reach $150,000 if former U.S. President Donald Trump wins. The bank’s head of digital asset research cites Trump’s perceived crypto-friendly stance as key for this bullish outlook for bitcoin. Trump’s administration is seen as fostering a supportive regulatory environment, which could further boost cryptocurrency markets.
Standard Chartered Predicts Bitcoin to Hit $100K Pre-Election, $150K if Trump Wins
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Standard Chartered’s $150K Bitcoin Price Prediction
Geoff Kendrick, head of digital assets research at Standard Chartered, forecasts bitcoin could climb to $100,000 as the November presidential election nears, potentially reaching $150,000 by year-end if former U.S. President Donald Trump wins the election.
Kendrick stated in a research note on Thursday, citing Trump’s perceived crypto-friendly stance as a key factor for this bullish outlook:
As we approach the U.S. election, I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory
Standard Chartered similarly said in May that the second Trump term would be broadly positive for the crypto space due to a more supportive regulatory environment.
Moreover, Standard Chartered also believes that the SEC will approve spot ethereum exchange-traded funds (ETFs). “For other coins (eg. SOL, XRP), markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one,” Kendrick said in May.
Initially a crypto critic, Trump has acknowledged bitcoin’s growing popularity and pledged to oppose President Joe Biden’s anti- crypto agenda, advocating for favorable regulations for digital assets. He also promised to free Ross Ulbricht. Since leaving office, Trump has launched three non-fungible token ( NFT) collections.
Former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo considers Trump America’s first crypto president, highlighting that bitcoin futures were approved during his administration. At the end of May, Trump was found guilty of 34 felony counts.
Do you think the price of bitcoin will hit $100K before the November election and rise to $150K if Donald Trump wins? And, do you think Trump will win the election? Let us know in the comments section below.
