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Predicting a Bitcoin Surge: Standard Chartered’s Projection of $150,000 and a Significant Milestone of $100,000!
As per Standard Chartered’s latest estimates, Bitcoin might skyrocket to a remarkable $100,000 in anticipation of the upcoming US presidential elections in November, with the possibility of setting a new all-time high in August.
Authored by:
Elif Azra Güven
02.07.2024 – 18:22
Update:
5 seconds ago
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Standard Chartered Boosts 2024 Price Target for Bitcoin, Offers Optimistic Ethereum Forecast!
Standard Chartered experts, envisioning a potential $150,000 valuation for Bitcoin, share their revised Bitcoin projections.
Per findings by The Block, Standard Chartered boldly foresees Bitcoin hitting record levels during August and surging to $100,000 in the build-up to the US presidential elections next November.
This bold forecast hinges on a perceived scenario where Donald Trump triumphs over Joe Biden in the elections.
In a detailed report penned by Geoffrey Kendrick, the Head of Foreign Exchange and Digital Assets Research at Standard Chartered, the following declarations were made:
“Bitcoin is poised to reach unprecedented heights in August, subsequently climbing to $100,000 by the time of the US elections in November.”
The analyst postulates that a Trump victory could catalyze positive momentum for Bitcoin, asserting a direct correlation between the ex-president’s electoral prospects and the cryptocurrency’s price.
“Underpinning this stance is the belief that both regulatory policies and mining operations would receive a more favorable outlook under a Trump administration,” Kendrick suggested.
The report also contemplates an alternative scenario wherein Biden withdraws from the electoral race towards the end of July, dubbed the “least probable” outcome. In such an event, Bitcoin’s valuation could experience a potential downturn, dipping to the range of $50,000 to $55,000.
Kendrick concludes by reiterating their earlier forecast from early June, setting the year-end Bitcoin price target at $150,000, with a post-2025 prediction of $200,000, emphasizing the significance of achieving the $150,000 milestone by the close of 2024.
*This content does not constitute financial advice.
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