Standard Chartered Predicts BTC to Reach $100K by August

As a researcher with a background in financial markets and experience following the cryptocurrency space closely, I find Geoffrey Kendrick’s predictions on Bitcoin’s price movement intriguing. His insights are based on the current political climate and the potential impact of the U.S. presidential election on the regulatory environment for cryptocurrencies.

As a forex and digital assets researcher at Standard Chartered with the title of head, I, Geoffrey Kendrick, anticipate a substantial rise in Bitcoin‘s worth.

In a recent analysis, he projected that the cryptocurrency could hit a new record peak around August. Following this, there’s an anticipated spike to $100,000 during the U.S. presidential election in November. This projection is linked to the ongoing political campaign and the involvement of Joe Biden.

“Standard Chartered Bank’s Asset Manager, Geoffrey Kendrick, has revised his Bitcoin price forecast to $100,000 by the US election. My chart indicates a potential price of around $107,000 in late August or early November.”

— MartyParty (@martypartymusic) July 2, 2024

As a researcher studying the intersection of politics and cryptocurrencies, I’ve come across Kendrick’s perspective that a Trump presidency could bring significant benefits to Bitcoin. According to his analysis, Trump’s policies might lead to more favorable regulations for cryptocurrencies, thereby enhancing their legitimacy and stability.

If Biden were to exit the presidential race, as forecasted by Kendrick, there could be significant market shifts with potential consequences for Bitcoin. According to his analysis, a possible temporary decrease in Bitcoin’s value might occur, ranging between $50,000 and $55,000.

The forecast depends on the registration deadline of August 4, as mandated by Ohio law, which will determine the Democratic nominee’s official standing. Currently, Bitcoin is priced at $62,185.23, representing a minor decrease of 1.08% in the last 24 hours.

Kendrick posits that should Biden continue his campaign, it may present an excellent moment to invest in Bitcoin, as its value is predicted to surge during the election season. Conversely, if a formidable Democratic contender such as Michelle Obama steps up as the nominee, Bitcoin prices might remain suppressed.

As an analyst, I’d interpret Kendrick’s projection of a $200,000 Bitcoin value by 2025 as expressing optimistic faith in its future growth.

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2024-07-03 04:53