As a researcher with a background in financial markets and experience tracking Bitcoin’s price movements, I find Standard Chartered Bank’s prediction of Bitcoin reaching $150,000 by the end of 2024 if Donald Trump wins the presidential election to be an intriguing development. The bank’s head of forex and digital asset analysis, Geoffrey Kendrick, has identified positive economic data and the potential reelection of Trump as significant factors that could drive Bitcoin’s price upwards.
As a crypto investor, I’m excited about Standard Chartered’s prediction that if Donald Trump gets reelected, Bitcoin‘s value could reach an astonishing $150,000 by the end of 2024. According to Geoffrey Kendrick, the bank’s head of forex and digital asset analysis, we might even see Bitcoin surpassing $80,000 as early as the end of June, thanks to positive payroll statistics.
I firmly believed that a significant surge would take place in the Bitcoin market should Trump secure the presidency.
Recent announcement from Standard Chartered Bank: If Donald Trump secures the presidency, Bitcoin could potentially hit a price of $150,000.
— Watcher.Guru (@WatcherGuru) June 6, 2024
Market sentiment is raised by ETF inflows.
As an analyst, I’ve noticed that Bitcoin exchange-traded funds (ETFs) have been a major driving force behind the optimistic price predictions. In just one day, these funds recorded impressive inflows totaling nearly $880 million. Notably, Fidelity’s BTC ETF, FBTC, has spearheaded this trend.
On Tuesday, ETF inflows reached the second-largest intake since March, totaling over $15 billion. This significant investment suggests robust confidence among investors. Previously, there had been a prolonged phase of meager net inflows and even outflows from late April until early May.
Political Impact on the Markets for Cryptocurrencies
With the US election just around the corner, there’s heightened anticipation in the cryptocurrency trading community. Based on data from Polymarket, it appears that Donald Trump has a strong likelihood of securing another term, with approximately a 55% chance, while Joe Biden trails behind at 36%.
As a crypto investor, I’ve noticed that political developments in the U.S. have a significant impact on the market mood. Institutional backing from both major political parties and the approval of ETH ETFs have boosted my confidence in the crypto market. In fact, I believe Bitcoin’s price will reach $100,000 before the elections. If Trump wins, however, I predict Bitcoin could surge even further, potentially reaching $150,000 or more, reflecting the powerful influence of politics on market sentiment.
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2024-06-06 21:25