Geoff Kendrick, the global head of digital assets research at Standard Chartered, predicts Bitcoin's price will rise to $200,000 by the end of 2025, regardless of the outcome of the 2024 US Presidential election.
Bitcoin Price Prediction
Geoff Kendrick believes that Bitcoin's price will reach $200,000 by the end of 2025. He predicts that if Former President Donald Trump returns to the White House, Bitcoin's price could hit $125,000 by the end of 2024.
Factors Influencing Price Growth
Among the factors that could drive Bitcoin's price higher, Kendrick cites the potential removal of SAB-121, a marginal uptick in inflation, and positive inflows into Bitcoin exchange-traded funds (ETFs).
Political Context
Kendrick suggests that changes in leadership at the Securities and Exchange Commission (SEC), including the potential replacement of Gary Gensler, could significantly impact the crypto market. He also notes the macroeconomic outlook, predicting that 10-year yields will exceed two-year yields for the first time in several quarters, further boosting Bitcoin prices.
Regardless of the 2024 election outcome, Geoff Kendrick remains optimistic about Bitcoin's future and its potential to reach new all-time highs.
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