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Standard Chartered Predicts Bitcoin to Hit $250,000 by 2025 Amid US Election Influence
- 2024/09/13
- 再生時間： 3 分
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Standard Chartered has reaffirmed its projection that bitcoin will hit new all-time highs by the end of 2024, regardless of the U.S. election outcome. The bank's head of digital assets research, Geoffrey Kendrick, anticipates a significant price surge for bitcoin, potentially reaching $150,000 by the end of the year. This forecast is based on the growing institutional interest in cryptocurrencies, driven by the launch of U.S. bitcoin Exchange-Traded Funds (ETFs) earlier this year.
Kendrick's analysis suggests that a Trump presidency could propel bitcoin to $125,000, while a Harris presidency could see it drop to $75,000. The bank's research highlights that the U.S. presidential election could significantly influence bitcoin's price, with President Joe Biden's reelection bid potentially creating a prime buying opportunity for investors. Conversely, if Biden withdraws from the race, Kendrick foresees a potential drop in bitcoin's value to $50,000.
The recent jobs report release has served as a significant catalyst for bitcoin's price, and the U.S. election is now poised to become the next major driver for the cryptocurrency. Kendrick noted that the Biden administration's pragmatic approach towards ETH ETFs contrasts with their earlier attempts to repeal SAB 121, making a Trump administration more favorable to the crypto sector.
Standard Chartered's bullish outlook is supported by the bank's observation of strong inflows into spot bitcoin ETFs, which they believe will continue to propel Bitcoin's price. The bank also expects the rally to continue into 2025, with Bitcoin potentially trading as high as $250,000 next year before settling around $200,000.
Despite the challenges, such as stalled bitcoin ETF inflows in the U.S. and dampened expectations for an ether spot ETF approval, Kendrick remains confident that the market positioning is now cleaner, making it an opportune time to re-engage in medium-term long positions. The bank's prediction underscores a growing willingness among major financial institutions to make ambitious bitcoin price forecasts, reflecting the increasing mainstream adoption and positive fundamentals of the cryptocurrency.
Kendrick's analysis suggests that a Trump presidency could propel bitcoin to $125,000, while a Harris presidency could see it drop to $75,000. The bank's research highlights that the U.S. presidential election could significantly influence bitcoin's price, with President Joe Biden's reelection bid potentially creating a prime buying opportunity for investors. Conversely, if Biden withdraws from the race, Kendrick foresees a potential drop in bitcoin's value to $50,000.
The recent jobs report release has served as a significant catalyst for bitcoin's price, and the U.S. election is now poised to become the next major driver for the cryptocurrency. Kendrick noted that the Biden administration's pragmatic approach towards ETH ETFs contrasts with their earlier attempts to repeal SAB 121, making a Trump administration more favorable to the crypto sector.
Standard Chartered's bullish outlook is supported by the bank's observation of strong inflows into spot bitcoin ETFs, which they believe will continue to propel Bitcoin's price. The bank also expects the rally to continue into 2025, with Bitcoin potentially trading as high as $250,000 next year before settling around $200,000.
Despite the challenges, such as stalled bitcoin ETF inflows in the U.S. and dampened expectations for an ether spot ETF approval, Kendrick remains confident that the market positioning is now cleaner, making it an opportune time to re-engage in medium-term long positions. The bank's prediction underscores a growing willingness among major financial institutions to make ambitious bitcoin price forecasts, reflecting the increasing mainstream adoption and positive fundamentals of the cryptocurrency.