Standard Chartered predicts Bitcoin to reach $125,000 by end of 2024 if Trump wins
From Investing.com
September 12, 2024 1:10:03 pm:
Standard Chartered has projected a price target of $125,000 for Bitcoin by the end of 2024 if Donald Trump wins the upcoming election. The firm’s positive outlook on digital assets remains strong, with expectations of Bitcoin hitting new highs under both a Trump or Harris victory.
The analysts believe that the US election will influence digital assets to some extent, but the impact is expected to be less significant compared to previous election cycles. Progress on regulatory relaxation, including the repeal of strict accounting rules on banks’ digital assets, is anticipated to support Bitcoin’s price in the future.
In addition to regulatory progress, Standard Chartered expects positive momentum from developments in US Treasury markets and a seasonal rebound in Bitcoin ETF inflows in October. The firm sees current trends in Treasury markets as building positive momentum for Bitcoin’s price, despite potential initial price declines post a Harris victory.
Despite potential short-term fluctuations, Standard Chartered’s analysis points towards Bitcoin reaching new heights by the end of 2024. The firm remains optimistic about the cryptocurrency’s future and its potential for growth, highlighting various factors that could contribute to Bitcoin’s success in the coming years.
Read more at Investing.com: Standard Chartered sets $125,000 2024 year-end target for Bitcoin if Trump wins By Investing.com