Standard Chartered Bank analyst Geoff Kendrick predicts that Bitcoin (BTC) could climb to an unprecedented $125,000 by year-end.
Standard Chartered Bank analyst Geoff Kendrick predicts that Bitcoin (BTC) could climb to an unprecedented $125,000 by year-end, provided Republicans win control of Congress during the U.S. elections on Nov. 5.
Kendrick's analysis suggests a possible price move to approximately $73,000 by Election Day, just below Bitcoin’s current all-time high of $73,800. But things start to get really interesting if Donald Trump wins the election. Kendrick projects an immediate 4% surge following the election results, then another 10% in the ensuing days.
Trump is currently leading with a 59% likelihood of victory, according to Polymarket. However, reports have surfaced that a single whale investor significantly swayed the odds in Polymarket's prediction market by placing over $20 million in bets on a Trump victory.
The alternative scenarios of Kendrick's analysis suppose that Bitcoin could achieve major gains even with a Kamala Harris presidency—to $75,000 by the end of the year. This perspective fits into a wider market sentiment, that growth in cryptocurrency markets will occur regardless of the election result.
Other market watchers have chimed in with bullish predictions: Bitwise executives believe it will go as high as $92,000 if Trump wins, and Deribit thinks it will be at $80,000 by the end of November. Meanwhile, BlackRock's Larry Fink believes that Bitcoin will continue its upward path regardless of election results.
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