In a bold forecast, Standard Chartered's head of digital asset research, Geoff Kendrick, has bitcoin-to-reach-150000-if-trump-wins-presidency-standard-chartered.html”>foretold that bitcoin could rise to $150,000 if Donald Trump wins the next US presidential election. “As we get closer to the US elections, I expect it to reach $100,000 and then $150,000 by the end of the year in the event of a Trump victory,” Kendrick said.
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ONLY IN: twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin reach $150,000 if Donald Trump wins the presidency, says Standard Chartered. pic.twitter.com/4Kaq4P0BRf
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1798722422839140444?ref_src=twsrc%5Etfw”>June 6, 2024
The prediction comes against a backdrop of economic indicators and political events influencing the bitcoin market. Kendrick highlighted that the next important factor for the price of bitcoin would be the US elections.
Kendrick also noted that bitcoin could hit a new high over the weekend if the nonfarm payrolls report, due out on Friday, is favorable. bitcoin's current all-time high, set on March 14, stands at $73,770. A positive jobs report could pave the way for bitcoin to hit $80,000 later this month, he noted.
The forecast underlines the significant impact that political events can have on the bitcoin market. With over 50 million bitcoin and cryptocurrency holders in the United States, the outcome of the presidential election is set to play a crucial role in shaping the future of bitcoin.
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