Standard Chartered predicts Bitcoin could soar to $150,000 dollar by the end of 2024, if Donald Trump wins the US presidential election, citing his crypto friendly policies. The crypto market is bracing for a potential surge as the US presidential election nears, with exports offering bold predictions for Bitcoins price trajectory.
Geoff Kendrick, head of digital assets research at Standard Chartered, has forecasted that Bitcoin could soar to $100,000 as the election approaches and potentially reach a staggering $150,000 by year-end if Donald Trump secures a victory.
Bitcoins current record stands at $73,750,07 achieved on March 14th. A positive report could pave the way for Bitcoin to surge to $80,000 by the end of June. According to kendricks analysis.
The forecast comes amid a backdrop of shifting monetary policy trends globally. Central banks in developed economies, including the European Central Bank, and the Danish Central Bank, have recently implemented rate cuts, with the ECB slashing rates by 25 basis points on Thursday.
While the US federal reserves has yet to signal an eminent rate cut, analyst suggest that a recent softening in inflation and economic growth data could potentially trigger such a move. The upcoming consumer price index (CPI) release schedule for letter this month, is being closely watched as a potential catalyst for Bitcoin to breach new all time highs.
kendric reiterated his year end target of $150,000 for Bitcoin, asserting that such a price would place Bitcoins market capitalisation at $3 trillion, comparable to NVIDIA's recent milestone valuation.
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