Bitcoin: Potential Benefits of US Financial Dominance and Trump's WIN
Date: 2024-05-08 Author: Gabriel Deangelo Categories: BUSINESS
In light of current geopolitical events and expectations from the upcoming US elections, digital assets, especially Bitcoin, may become a central theme for investors in search of alternative assets. This opinion was expressed by one of the world's largest banks - Standard Chartered.
Financial dominance and the role of Trump
In its report, Standard Chartered noted the growing risk of financial dominance by the United States and the monetization of government debt. This is due to the possible fiscal strategies of the American government and the upcoming elections, in which former President Donald Trump may again enter the political arena. According to analysts, his election victory could be a boon for cryptocurrencies.
Bitcoin Potential
The bank suggests that in an environment of US financial dominance, Bitcoin will provide investors with protection against de-dollarization and declining confidence in the US Treasury bond market. Consequently, the price of Bitcoin may continue to rise.
Expectations and forecasts
Standard Chartered analysts reaffirmed their Bitcoin target of $150,000 by the end of 2024 and $200,000 by the end of 2025. They also expect a second Trump administration to support digital assets, including through looser regulation and approval of spot US ETF.
In general, Bitcoin and other cryptocurrencies appear to be promising assets in the context of a changing geopolitical environment and economic factors.
