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<p>British mega bank <a href="https://bitcoinist.com/bitcoin-rise-over-200-to-250000/" rel="nofollow">Standard Chartered</a> has made a bullish prediction for Bitcoin (BTC), the world’s largest cryptocurrency. The multinational bank has projected that Bitcoin will surge as high as $100,000 from its current price of above $60,000.</p> 
<h2 id="bitcoin-to-reach-100-000-by-us-election-day">Bitcoin To Reach $100,000 By US Election Day</h2> 
<p>In a Tuesday note, Standard Chartered’s head of forex and digital assets research, Geoffery Kendrick predicted that Bitcoin could see its <a href="https://www.newsbtc.com/news/bitcoin-whales-on-the-move-is-a-100000-price-tag-coming/">price rallying to $100,000</a> by the United States (US) election day in November. He also disclosed that the pioneer cryptocurrency is poised for “a fresh all-time” by August 2024.</p> 
<p>Kendrick’s <a href="https://www.newsbtc.com/news/bitcoin-raises-bull-flag-formation-triggers-calls-for-100000/">bullish forecast for BTC</a>&nbsp;hinges on the outcome of the upcoming US Presidential election, particularly whether the current US President, <a href="https://bitcoinist.com/bidens-crypto-policies-under-fire-cardano-leader-speaks-out/" rel="nofollow">Joe Biden</a>, continues his election campaign. Within the crypto space, Biden has somewhat gained an anti-crypto reputation due to his <a href="https://bitcoinist.com/us-president-joe-biden-vetoes-overturn-of-sab-121/" rel="nofollow">previous actions</a> seemingly aimed at limiting the crypto industry.</p> 
<p>As a result, the crypto industry may lean towards supporting US presidential candidate, <a href="https://bitcoinist.com/donald-trump-champions-bitcoin-mining/" rel="nofollow">Donald Trump</a> in the forthcoming elections, given his <a href="https://bitcoinist.com/donald-trump-declares-support-for-crypto-companies/" rel="nofollow">vocal support for cryptocurrencies</a> and promises to advance the ecosystem if elected President. Standard Chartered has also correlated Trump’s electoral odds to the <a href="https://www.newsbtc.com/bitcoin-news/crypto-analyst-bitcoin-78700-btc-breaks-resistance/">price of Bitcoin</a>, elucidating that both crypto regulation and mining could be viewed more favorably under his regime.</p> 
<p>On the flipside, Kendrick also emphasized that if Biden withdraws from the <a href="https://www.newsbtc.com/news/is-the-next-bitcoin-bull-run-tied-to-the-us-presidential-elections-heres-what-history-tells-us/">US Presidential election</a> race in July, the price of Bitcoin could drop as low as $50,000 to $55,000. He pinpointed August 4 as a crucial date that would determine Biden’s candidacy.&nbsp;</p> 
<p>Moreover, Kendrick’s bullish outlook for BTC reaffirms his <a href="https://www.newsbtc.com/news/mark-your-calendars-bitcoin-to-hit-100000-by-end-of-2024-standard-chartered-says/">earlier predictions in November 2023</a> when he projected BTC to hit $100,000 by the end of 2024. At the time, Kendrick and the Standard Chartered team had outlined catalysts like <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" rel="nofollow">Spot Bitcoin ETF approval</a> and the <a href="https://bitcoinist.com/breaking-bitcoin-halving-2024-complete-what-expect/" rel="nofollow">Bitcoin halving event</a> as bullish drivers for this price surge.</p> 
<h2 id="btc-continues-to-trade-below-all-time-highs">BTC Continues To Trade Below All-Time Highs</h2> 
<p><a href="https://www.newsbtc.com/news/bitcoin-decline-sees-funding-rates-plunge-to-three-month-lows/">Bitcoin</a> is still trading below its all-time high of above $73,500 in March, experiencing major declines as selling pressures take hold and market volatility continues. Although Standard Chartered foresees a $100,000 price leap for BTC and Bernstein <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-spot-etfs-200000-btc/">predicts a $200,000 all-time high</a> for Bitcoin, the cryptocurrency is still on a <a href="https://www.newsbtc.com/bitcoin-news/retail-losing-interest-bitcoin-volume-plunges-30/">downward trend</a>.&nbsp;</p> 
<p>In just 24 hours, BTC gave up over $2,000 from its price, declining by 3.88% to trade at $60,115, according to CoinMarketCap. The cryptocurrency has been exhibiting <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-bulls-beware-bears-are-still-in-control-says-top-analyst-heres-why/">bearish signals</a> since the beginning of June, influenced by <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-miners-slow-down-selling/">miners’ Bitcoin sell-offs</a> and recent outflows from Spot Bitcoin ETFs.&nbsp;</p> 
<p>Crypto analyst, Ali Martinez has <a href="https://x.com/ali_charts/status/1808341827579179328?s=46" rel="nofollow">predicted</a> that over $1 billion will be liquidated if BTC rebounds to $62,600. This development could potentially short the market and trigger more declines for Bitcoin.&nbsp;&nbsp;&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/qrQhP8EN/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

British Mega Bank Standard Chartered Says Bitcoin Will Hit $100,000, Here’s When

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