Title: Standard Chartered Predicts Bitcoin to Reach $150,000, Sets Dates for $80,000 and $100,000 Milestones
In the realm of bullish predictions for Bitcoin, Standard Chartered, a major bank, has made a bold forecast. Anticipating the cryptocurrency to hit $150,000, the bank has set milestones for $80,000 and $100,000 as well.
According to Geoffrey Kendrick, head of digital assets research at Standard Chartered, the bank expects Bitcoin to reach $100,000 before the US presidential elections later this year. Kendrick highlighted the significance of the upcoming US Nonfarm Payrolls data, suggesting that a positive outcome could propel Bitcoin to new all-time highs over the weekend.
Looking ahead to the November election, Kendrick expressed confidence in Bitcoin surpassing $100,000 before the ballots are cast, with a potential surge to $150,000 by the year’s end in case of a Trump victory. He noted that the Biden administration’s recent stance on cryptocurrency, particularly regarding Ethereum ETFs, has influenced the market dynamics.
In line with its projections, Standard Chartered foresees Bitcoin hitting $80,000 by the conclusion of June, with a long-term forecast of $150,000 by the end of 2024 and $200,000 by the end of 2025.
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