In a new report, Standard Chartered analyst Kendrick provides forecasts on Bitcoin's future based on the outcome of the 2024 U.S. presidential election.
Bitcoin Future Predictions
Standard Chartered analyst Kendrick believes that Bitcoin will reach new records regardless of the election result. The report suggests that with Donald Trump’s victory, Bitcoin could soar to $125,000.
Impact of 2024 Election on Bitcoin
Even if Kamala Harris becomes president, Kendrick thinks Bitcoin will still hit new heights, reaching around $75,000. He explains that the election outcome will impact Bitcoin, but the risks of a Harris presidency might be overblown.
Optimistic Market Outlook
A Harris win might cause a short-term drop in Bitcoin’s price, but Kendrick believes this dip will be temporary. He expects the market to bounce back as it becomes clear that progress on regulations will continue. For Bitcoin investors, it’s important to keep an eye on the election results, but Kendrick’s report suggests staying optimistic.
Standard Chartered’s report indicates that the outlook for Bitcoin remains positive regardless of the election outcome. Investors are advised to maintain a long-term perspective on the market.
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