Standard Chartered analysts project a significant rise in Solana's (SOL) value if Donald Trump wins the 2024 U.S. presidential elections. Geoffrey Kendrick, an analyst at the bank, suggests that Solana's price could increase fivefold by 2025.

Impact of Trump Win on Solana

Kendrick's optimistic outlook for Solana is based on the belief that Trump would more favorably support the Solana ecosystem compared to rival candidate Kamala Harris. Trump's leadership is expected to foster an environment conducive to Solana-focused funds, boosting adoption and investment inflows.

Crypto as a Hot Election Topic

As the 2024 presidential race gains momentum, cryptocurrency becomes a pivotal issue. Trump has vocally supported cryptocurrencies, NFTs, and DeFi, whereas Kamala Harris has recently expressed her intent to promote growth in digital assets. Analysts warn that Harris's policies might introduce more uncertainty into the crypto market.

Standard Chartered's Bitcoin Predictions

Geoffrey also forecasts that geopolitical uncertainties could add volatility to the crypto market, potentially pushing Bitcoin's price below the $60,000 mark. However, this could present buying opportunities for long-term investors. The bank anticipates that if Bitcoin ETF inflows reach $75 billion, it may exceed its target price.

Standard Chartered's forecasts underscore the significance of political events for the cryptocurrency market and indicate potential volatility based on upcoming U.S. election outcomes.