Standard Chartered Forecast: Bitcoin Could Reach $100,000 Before US Elections

Kendrick argues that the US presidential election could be a catalyst for Bitcoin growth. In particular, if Donald Trump wins, the Bitcoin price could rise to $150,000 by the end of 2024. In this case, Bitcoin's capitalization will exceed $3 trillion.

Kendrick noted that the Biden administration has shown pragmatism by partially approving spot Ethereum ETFs. However, despite this, the President vetoed a resolution to repeal SAB 121. This guidance from the SEC requires banks to show customers' crypto assets on their balance sheet, which Biden considered necessary to protect investors.

Trump, unlike Biden, actively supports the cryptosphere. He is even accepting donations in digital assets for his election campaign. This makes him a preferred candidate for crypto investors and, according to Kendrick, could significantly affect the growth of Bitcoin if he wins.

Standard Chartered also indicated that on the weekend of June 8 and 9, 2024, Bitcoin may experience growth amid the publication of unemployment data in the United States. This could pave the way for the price to reach $80,000 by the end of June 2024.

According to Kendrick, if Bitcoin reaches $150,000 by the end of 2024, then by the end of 2025 the price could rise to $200,000. If this forecast is realized, Bitcoin's capitalization will exceed $3 trillion, which will strengthen its position in the market.

Jeff Kendrick and Standard Chartered's forecasts for significant growth in Bitcoin highlight the importance of the political situation in the United States for the cryptocurrency market. Support for cryptocurrencies from a future president, be it Trump or another candidate, could be a key factor for investors. Paying attention to unemployment data and other economic indicators also play an important role in short-term Bitcoin price fluctuations.