2024

Bitcoin

Standard

Donald Trump

Standard Chartered predicts that the expectation of Donald Trump’s reelection will propel the value of Bitcoin to $150,000 by the end of 2024. The company’s head of forex and digital asset analysis, Geoffrey Kendrick, noted that positive payroll statistics may drive Bitcoin over $80,000 by the end of June.&nbsp; 
He underlined how the Bitcoin market would rise dramatically in the event that Trump won the US presidential race. 
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 JUST IN: Standard Chartered Bank says <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> will reach $150,000 if Donald Trump wins the presidential election. <a href="https://t.co/CDRKebD61M" target="_blank">pic.twitter.com/CDRKebD61M</a>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1798723220046229798?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 6, 2024</a>
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Market sentiment is raised by ETF inflows. 
An important contributing element to the bullish price projections has been the <a href="https://www.cryptotimes.io/2024/06/05/us-bitcoin-etfs-record-887-million-net-inflow-on-june-4/" target="_blank" rel="noreferrer noopener">recent </a>performance of Bitcoin exchange-traded funds (ETFs). With almost $880 million recorded in a single day, spot BTC ETFs have received significant inflows, with Fidelity’s FBTC leading the way. 
This marked the second-highest inflow day since March. ETF inflows crossed $15 billion on Tuesday, indicating strong investor confidence. This trend followed a period of minimal net inflows and even outflows from mid-April to early May. 
Political Impact on the Markets for Cryptocurrencies 
As we are approaching the US election the speculation in the cryptocurrency trading market intensifies. According to<a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1717672259926" target="_blank" rel="noreferrer noopener nofollow"> Polymarket</a>, Trump has a 55% chance of winning reelection, compared to incumbent Joe Biden’s 36%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
Politics in the U.S. is significantly influencing market mood, with institutional support from political parties and approval of ETH ETFs strengthening investor confidence. Kendrick predicts Bitcoin’s price will soar to $100,000 before elections and potentially $150,000 if Trump wins, highlighting the significant impact of politics on market sentiment. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/05/bitcoin-to-reach-100k-by-2024-says-galaxy-digital-ceo/" target="_blank" rel="noreferrer noopener">Bitcoin Could Reach $100K by 2024, Says Galaxy Digital CEO</a> 
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Standard Chartered Sees Bitcoin at $150K with Trump Reelection

The Crypto Times

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